Orkla Latvija plans to invest in development of new products this year

  • 2021-01-13
  • LETA/TBT Staff

RIGA - Food concern Orkla Latvija in 2021 plans to mostly invest in development of new products, improving production, work environment and infrastructure, said Orkla Latvija and Orkla Biscuit Production board chairman Toms Didrihsons in an interview with LETA.

Didrihsons said that Orkla Latvija every year invests EUR 4-5 million in development of the company. This year Orkla Latvija will continue development of the most popular and historic brands, and strengthen the company's position as a sustainable, leading company in the Baltics.

The company will also focus on its largest investment projects in Adazi - the new Laima plant and the new biscuit and waffle plant. "Both these projects will help us double our production capacity and increase export," he said.

Asked about forecasts for 2021, Didrihsons was cautious, saying that he is viewing vaccines with optimism as they will help to ease restrictions and return to the usual life.

"At the same time, consumers' habits have changed and some of them will remain so also after the pandemic, such as more frequent shopping in online stores," said Didrihsons. He also said that more and more consumers choose to eat healthier, therefore the company has been working on reduction salt and sugar contents in its products.

As reported, in 2019, Orkla Latvija posted EUR 117.3 million in preliminary turnover, up 3.7 percent, while the company's profit accounted for EUR 6.7 million.

In 2015, Norwegian food group Orkla, which owns Latvia’s NP Foods group, decided to merge Latvian food companies Laima, Staburadze, Latfood and NP Foods into one company, Orkla Confectionery & Snacks Latvija. Also, Latvian Spilva and Gutta companies were merged into Orkla Foods Latvija.