GRADUS AD Meat Company Increase Investment in Production

Bulgarian poultry producer which was established in 1992 by two brothers Ivan and Luka Angelov, Gradus AD has announced the investment of BGN 1.82million by its subsidiary company Gradus-1 EOOD for the purchase of poultry production equipment, some of which includes equipment for meat processing, storage and vacuum packaging. This investment, apart from the acquiring of equipment, also seeks to ‘introduce new products on the Bulgarian market’ and also to increase revenue from the company’s brands.

The company announced this development in a filing sent to the Bulgarian Stock Exchange.

The company had earlier announced that Gradus-98 AD, another subsidiary, had completed investment plans to construct a new 72,360 capacity broiler facility now named Centre North-3. This was done in order to increase the company’s breeding yield in broiler production and it cost about BGN 3.5million. The facility which is located Chervena Noda, North-Eastern Bulgaria, is expected to be completed at the end of the year 2018.

These investments were gotten by the initial public offering (IPO) which held earlier this year in June. The company pulled off the largest recorded IPO on the Bulgarian Stock Exchange since 2007. The IPO which lasted for two days generated about BGN 81.36 million for Gradus. The company also has its eyes on additional funding from the European Union.

Gradus is a meat producer with diverse units such as feed mills, hatcheries. Broiler production units and also slaughterhouses. It produces basically all kinds of poultry cuttings.