March 16, 2011

Germany's Meggle AG to invest US$2.86 Million in Serbian Dairy

Germany's Meggle AG, the parent to a group of companies active within the dairy field, will invest almost US$3 million to develop Serbia's Mladost dairy, which has been formally taken over on Monday (Mar 14), chief executive officer Sil van der Ploeg said.

Meggle will invest RSD210 million (US$2.86 million) to expand capacity and prepare the dairy based in Kragujevac, about 110 kilometres south of Belgrade, to also produce its own brand and sell it to the markets of neighboring Montenegro and Macedonia. Van der Ploeg did not disclose the price Meggle paid in December for the 100% stake in Mladost, Beta said.