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BNS - The Estonian valuable fish processor M.V.Wool is building a whole new complex in the Saue municipality adjoining the capital city Tallinn, targeting mainly export markets.
Mati Vetevool, board member and one of the owners of M.V.Wool, told BNS the complex will combine a fish farm, logistics center and the head office of the company. "A proper fish industry -- filleting, salting, smoking, packing, everything will take place there."
The enclosed area of the complex will be 4,500 square meters.
Vetevool said the project represents a big investment, but the exact sum is hard to name at this point as equipment will have to be bought next year.
Plans are for the plant to generate 150 million kroons (EUR 9.6 mln) of turnover annually, Vetevool said. The output is meant mainly for European markets -- Denmark, Germany and Italy. "There are very many buyers, production falls short of demand."
In his words, the company is putting up some of the financing and some comes from a loan. The idea to expand cropped up three or four years ago.
The new complex is to be finished by June 1, 2010.
M.V.Wool posted sales of 134.4 million kroons and a profit of 9.4 million kroons for 2008. The company employed 98 people.
(EUR 1 = EEK 15.65)
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