July 5, 2024

Feed mill in Spuz, Montenegro, welcomes new owners, gets fresh investment

Montenegrin agricultural firm Agromont and its Serbian counterpart, Agroglobe, are the new co-owners of an animal feed mill in Spuz, Montenegro, and are investing  €1.5 million (US$1.6 million) to upgrade production, the government in Montenegro's capital, Podgorica, said.

Production at the once-bankrupt mill will begin by the end of September, while the first shipments of animal feed are expected to be dispatched by the end of 2024, according to a government press release.

Earlier this year, Agromont acquired a poultry farm in the nearby village of Martinici and has since invested €2.8 million (US$3 million) to renovate production facilities. The company hopes to be produce 85,000 eggs a day and cover 40% of the Montenegrin market by the end of the year, the government said, quoting the company's owner, Bozidar Jokic.

Agroglobe entered the Montenegrin market in 2008.

- SeeNews