Nordex Food continues to prepare for three-digit million investment
2022 and the current year show good earnings in the North Jutland group, which has therefore begun to prepare for a large investment in the dairy at Nørager, as reported by FødevareWatch
Every year, Nordex Food sells around 60,000 tons of cheese, with white cheese being the dominant product group. In 2022, Nordex Food generated revenue of DKK 2.7 billion at the Group’s three dairies, at Nørager in North Jutland, and in Austria and Romania – with a total of 500 employees. Nørager is by far the largest and most modern production site, where a number of expansions and modernization initiatives have been carried out in recent years. And after a sluggish 2021, when COVID-19 and other factors impacted a negative annual report of DKK 21 million, and the year 2022, when we once again got back on track with DKK 38 million on the bottom line, we now believe in growth again. This information is provided by FødevareWatch (food and food industry media), which has spoken to CEO Martin Aagaard Pedersen. He underscores that the company is preparing for a large investment in the region of DKK 100 million over a five-year period. In fact, the company was ready to invest as early as in 2020, but the poor result in 2021 implied that the company put on the brakes.
Now, the plans have once again been revitalized, and the first steps have been taken on environmental approval and the acquisition of a neighbouring property.
- Now, we are in the process of obtaining the approvals that need to be in place for this to be possible and we progress, taking one step at a time. Perhaps, at one point or another, we can seriously embark on some of the plans – perhaps within a year or two. But capital must be available. We must live within our means, Martin Aalund Petersen underscores to FødevareWatch, to which he also emphasizes that in terms of results, 2023 appears to be even better than 2022.
See the full article on FødevareWatch HERE (subscription required).