Maag Grupp to merge Estonian meatpacking subidiaries
Estonian food industry company Maag Grupp AS will be merging its two meatpacking subsidiaries, Maag Konservittööstus AS and Rannarootsi Lihatööstus AS, while ceasing the operations of subsidiary Maag Konservitööstus
The group made the decision in May of this year already, and on Monday Maag Grupp finally launched a proceeding in the Central Commercial register. After the merger, the company wil go forward under the name of AS Rannariootsi Lihatööstus, while the operations of Maag Konservitööstus will come to an end as well.
AS Maag Grupp group revenue decreased 2.8 percent to 163.9 million euros, profit nonetheless grew 63.2 percent to just 6.4 million euros.
The company's workforce included an average of 721 individuals, whose wage costs totaed 13.5 milion euros.