Tartu Mill subsidiary launches exports to Egypt, Venezuela (3)

Packaging look familiar? Dobeles Dzirnavnieks is a subsidiary of Estonia's Tartu Mill! (Dobeles Dzirnavnieks/Facebook)
11/30/2016 4:43 PM
Source: BNS
Category: Business

Latvia's biggest grain processing company, Tartu Mill AS subsidiary Dobeles Dzirnavnieks launched exports to Egypt and Venezuela this year.

Dobeles Dzirnavnieks board chairman Kristaps Amsils told BNS that the company's export turnover was about 60 million euros this year and may be similar again this year. "We plan to achieve a similar amount this year," said Amsils. "We currently export to more than 60 countries, and exports reach account for up to 60 percent of the total sales."

As reported, a new cereal plant recently launched by Dobeles Dzirnavnieks grain mill will enable the company to increase grain processing by about 10 percent to 220,000 tons per year. Total investments in the project reached 6.4 million euros, part of which was raised from the European Regional Development Fund.

Dobeles Dzirnavnieks generated 98.5 million euros in sales last year, up 27 percent from one year prior, while the company's profit declined by more than three times to 1.14 million euros. The Latvian company exported 60 percent of its output.

Dobeles Dzirnavnieks has belonged to Tartu Mill since 2008.

Editor: Aili Vahtla

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