Atria post a delightful profit and sales growth
Atria's solid results for the business, which also recently signed a lucrative Chinese export deal, came as followed to a 4-year strategy with healthy growth: which offers a roadmap combining selective acquisitions, new market access and product innovation to avert the impact of European price pressure.
Atria complete two takeovers in 2016 with the beef processor Kaivon Liha for 40 million Euro and with Sweden’s third-largest chicken producer Lagerberg for 18 million Euro. Atria’s second-quarter profits were up in Finland, the Baltics and Russia, thanks to an upturn in the meat market, but also due to the company’s investment in modernising production lines. In Estonia, for example, meat production has been centralised at a single plant.
Meanwhile, a 36 million Euro investment at pig cutting plant in Nurmo, which is the only factory to be licensed for export pork to China, is almost on completion and reduced 80 jobs make it more lean. The money invested into this factory significantly improved throughput for the spring season. Production plant at Nurmo is set to rise further after the first shipments of meat arrived in China in June. With Chinese import demand is still wildly and Atria expects to surpass the 3,000 tons of frozen pork which previously had to be expected to send to China this year.