Mevgal: Further growth and a €3 million investment

Mevgal 2019

Mevgal, one of the major dairy players in Greece, is expecting further growth for both 2019 as well as the following years. The company has attributed the surge to the five-year investment plan it has prepared, which includes an approximately €54 million bond loan. Namely, the bond amounting to €54.3 million includes a corresponding number of bonds, each with a value of €1, while the term of the floating rate with physical collateral loan is ten years. According to the company’s Managing Director, Ms Mary Chatzakou, repayment will continue in the normal way.

As for the company’s activity in the UK, Ms Chatzakou notes that “our activities are not widespread and therefore the problem that exists right now with Brexit does not affect us.” In addition, Ms Chatzakou confirmed that the dairy company is planning an investment of €3 million in order to add mechanical equipment to all its activities.

Moreover, in a broader context, Mevgal aims to increase its share in the Greek market and to boost its exports. In fact, the Macedonia-based business posted an increase in sales for the year 2018.