French industrial bakery group Panavi is investing EUR30m (US$40.79m) at its HQ in Torcé, in western France, to construct a third production unit that will further boost the group’s production capacity.
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The facility will be dedicated to ready to-bake Viennese pastries. It is expected to enter service at the end of 2007 and create up to 60 jobs.
Next month will see the completion of an extension to Panavi’s production plant at Châtellerault with a new line making traditional breads from sourdough baked in ovens with stone soles.
Earlier this year, Panavi acquired Spanish firm, which specialises in the production of frozen Viennese pastries.
Panavi’s turnover is set to rise from EUR230m in 2006 to EUR302m in 2007.
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