The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Food And Beverage Manufacture Of Food Products 10 - Manufacture of food products
160 jobs Number of planned job creations
Announcement Date
16 March 2015
Employment effect (start)
15 March 2015
Foreseen end date
1 April 2015
Description
Atlantic Group opened a new state-of-the-art factory for the production of sports food and energy bars in Nova Gradiška Industrial Park where 160 new workers will be employed.
Atlantic Group has officially started production in its new factory. The factory is worth HRK million 100 (EUR13.160 million) following investments into construction and equipment. This development was financed mainly through Atlantic Group's own funds, though also supported through a loan from the European Bank for Reconstruction and Development. Atlantic Group Chairman, Emil Tedeschi, is very proud of the fact that the factory was built in just ten months, for which he extends his gratitude to employees and partners for their hard work.
With its Multipower brand Atlantic Group is the leading European producer of sports food. The investment denotes continuing consolidation of production capacities, given that, as of today, the range of energy bars which were formerly manufactured at a third-party facility, are now produced in Atlantic's own factory. Over 99 percent of production in this facility is intended for export, primarily to Western European markets.
This new factory in Nova Gradiška signifies an added value for Atlantic Group portfolio in other segments of the company's operations as well, through the prospect of exchanging knowledge and expanding its assortment in cooperation with other business units related to food production. Modern nutrition trends steer food production increasingly towards the segment of healthy and functional meals, and with these new capacities, the proficiency of the system will be able to best meet those needs and nutritional habits of our fast lifestyle.
Sources
16 March 2015: Banka.hr
16 March 2015: atlantic.hr (Press Release)
17 March 2015: www.b92.net
Citation
Eurofound (2015), Atlantic Grupa, Business expansion in Croatia, factsheet number 78785, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/78785.
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