Atria is planning to expand its poultry production in Finland, that will include the renovation of existing production facilities and the construction of new production facilities and lines at the Nurmo plant.
According to preliminary estimates, the value of the investment Atria is making is approximately EUR130 million (US$143 million).
The company is making the investment, as consumption of poultry meat has been growing strongly in Finland for several years. Since the beginning of 2019, the consumption has increased by about 4 percent in value, Atria stated in a press release. Atria is responding to the growth in consumer demand and is now planning a major investment project. This investment would strengthen Atria’s position as a market leader in poultry products.
“We will initiate the project planning based on preliminary studies. If implemented, the investment would be one of the largest single investment projects in Atria's history. We have a strong belief in Finnish food production and the fact that the Finnish meat industry will succeed in international competition, as long as we have courage to invest in it,” said Juha Gröhn, CEO of Atria Plc.
The first step of the project will be to start the application process for regulatory approvals and to get those approvals as soon as possible. After the planning phase, the decision on the implementation will be made. The project is expected to be fully completed by the end of 2024, at the earliest.
Atria Finland’s net sales for the second quarter of fiscal year 2019 totaled EUR263.7 million (US$293.9 million), an increase from the EUR254.9 million (US$284.07 million) reported for the second quarter of 2018, the company announced in July. Its net sales in Sweden also increased during that quarter.
Atria, according to the WATTAgNet Top Poultry Companies Database, is one of the largest food production companies in the Nordic and Baltic countries as well as Russia. Atria has 18 locations in those countries.