Under the plan, Indykpol will increase the facility’s capacity by about 74%, raise the quality of the facility’s products, upgrade the plant’s evisceration line, and expand the slaughterhouse in Olsztyn. The company plans to construct new facilities, extend the existing ones, and purchase new machines for the plant’s production lines.
Investments at Polish plant
As part of the project, Indykpol is aiming to create at least 100 new jobs by the end of 2020. With these investments in mind, the company recently shut down its Polish plant and aims to launch the planned investment shortly, according to information obtained by local news site Portalspozywczy.pl.
For the first nine months of 2017, Indykpol reported sales revenues of some PLN963.1m (€228.8m), down 3.7% compared with the same period a year earlier, and a net profit of PLN7.05m (€1.7m). The company’s lower revenues were mostly due to the phasing-down of the facility in Olsztyn in anticipation of the planned expansion and modernisation work.
The meat processing plant is located in the Warmia-Mazury special economic zone (WMSSE). This allows Indykpol to receive preferential tax treatment for its investment, as well as access to state aid.
New foreign markets
The investment is designed to allow the poultry meat business to boost its export sales to other member states of the European Union, to which 90% of the company’s foreign sales are directed, as well as to countries in Africa and the Far East. Indykpol said it also aimed to launch exports to China.
The company claimed to be the country’s largest turkey meat processor, offering a wide range of poultry meat products, including hams, frankfurters, sausages, pâté and others, according to company data.
Indykpol owns a second meat processing plant in Świebodzin, in western Poland, a feed production facility in Olsztynek, in the country’s north-eastern region, and a meat processing and feed production subsidiary in Tatarstan, in Russia. The company distributes its products in the Polish market through eight logistics centres located across the country, according to information from the meat business.
Indykpol was established in 1951 as a state-run meat business. The company was privatised in 1991, and subsequently rebranded as Indykpol. Since October 1994, the firm has been listed on the Warsaw Stock Exchange (WSE).
Local firm Rolmex SA is Indykpol’s majority shareholder, with a stake of 73.12%, and its subsidiary WMHM Ltd controls a further 9.47% of the shares in the meat business. Private pension fund Nationale-Nederlanden PTE SA owns a 5.82% stake in Indykpol.