Italian pasta producer De Cecco is investing €70 million over the next five years in the expansion of its production facilities.
According to the company’s 2021-2025 investment plan, published by Il Messaggero, production levels should reach 2.5 million quintals of pasta and 500,000 quintals of other products such as oil, ready-made sauces and bread substitutes.
One quintal is equal to 100 kilograms.
De Cecco previously announced the expansion of its production capacity in 2013, with the opening of two new production lines at its factory in Caldari di Ortona near Chieti.
The new investments will be financed by loans from both Italian and European banks. Of the total, €30 million has been earmarked for new production lines at Caldari di Ortona and €10 million for the expansion of the site; another €10 million for the installation of new machinery at the Fara San Martino factory, near Chieti; while a further €20 million will be invested in a new oil production plant.
The group expects to close 2020 with a turnover of €510 million, compared to €454 million in 2019 (+12%), a figure that the company is confident will reach €650 million by 2025.
According to the company, an estimated 11 million Italian consumers buy De Cecco products every day. The company has also seen strong growth on foreign markets, especially in the United States and Germany.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine