French cheese maker Bongrain invests EUR 20mn in its Serbian dairies.

By bne IntelliNews September 23, 2010
French cheese maker Bongrain has so far invested EUR 20mn in its dairies in Zrenjanin and Kikinda, Zrenjanin's dairy company Mlekoprodukt has announced. Mlekoprodukt's director Zivanko Radovancev said that the two dairies process 45mn litres of milk per year, and export products worth of EUR 1mn. Radovancev added that Mlekoprodukt invests between EUR 2mn-EUR 3mn per year. He also said that Mlekoprodukt employs 400 workers. Bongrain acquired 50.5% of Mlekoprodukt in 2004 for EUR 4mn. Last year, Bongrain boosted its stake in Mlekoprodukt to 100%.
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