March 7 (SeeNews) - Northern Greece Ceramics (KEBE) has acquired a production plant in Serbia’s central village of Mihajlovac for 10 million euro ($11 million), it said.
The amount includes the purchase price and the planned investment in the plant. KEBE will build a further 13,000 sq m of facilities, extending the plant to 117,000 sq m., it said in a press release last month.
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The first stage will include doubling the production capacity to 600 tonnes of bricks per day from 300 tonnes, while by 2027 it is expected to reach 1,000 tonnes per day.
Work on the plant is expected to begin in March with the aim of reopening the factory next year. The entire investment is planned to be completed by 2027.
Established in 2008, KEBE produces and supplies innovative structural ceramic products and is present in more than 40 countries worldwide.
$ = 0.9182 euro