Greek dairy company Mevgal has announced the start the €17.6m (US$15.3m) investment programme designed to run for the next two years, finishing in 2004.

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The funds have been earmarked for the modernisation of Mevgal’s production units. They will also be used to support the launches of several new products, such as the extended shelf life (ESL) milk product that is due for release in early 2003.


According to local newspaper Kerdos, the dairy recorded sales of €144m in 2001 and is predicting 2002 turnover to grow by 10% year-on-year.

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