Update: Olympus hopes to see EUR 40 million turnover in 2012 after opening EUR 55 million greenfield dairy factory in Brasov

Greek dairy producer Olympus has officially opened its first greenfield factory Romania, following an investment of over EUR 55 million from the company’s own funds. The factory is located in in Halchiu, Brasov county. An additional investment of about EUR 0.5 million could go into a juice bottling line in 2013, said Dimitrios Sarantis, president of the Olympus Group.

The factory in Halchiu is the largest investment made by the company outside Greece. The dairy producer estimates that it will recover the investment in about 15 years. In addition to Romanian factory, Olympus operates three production units in Greece and a fourth in Bulgaria.

The factory in Halchiu covers 25,000 sqm and at full capacity can process 40,000 liters of milk per hour and produce up to 120 tons of yogurt, 100 tons of white cheese and 16,000 liters of PET milk per day. Production started this June and about 100 tons of milk are processed daily. This capacity should increase by 100 tons each year and grow to 800 tons per day.

All the necessary milk comes from local farmers and milk collecting centers. About 60 percent of the total production will be exported to Europe and the US, company representatives explaining that the new factory will serve the group’s expansion strategy in the region and in Europe.

The factory employs about 80 workers, but their number will grow to between 120 and 150 by Q1 2012.

Olympus Romania hopes to report a turnover of about EUR 40 million next year, said Sarantis. Last year the company registered a EUR 20 million turnover and another EUR 24 million were reported this year. The company’s total investment in Romania since 1999 is estimated to reach EUR 70 million by the end of this year.

Part of the Tyras group of companies, Olympus was set up in Greece in 1965 as a family business and is now on its third generation The Greek producer has been present in Romania since 1999 when it bought a dairy factory in Baraolt, Covasna county, which, following the opening of the new unit, has been closed. The company also owns a 23 percent stake in local dairy firm Prodlacta and it also acquired local cosmetics producer Elmiplant in 2007.