Belgian food group Vandemoortele said last month that it is to invest more than E70 million throughout this year, "in an aim to drive forward continued capacity growth and efficiency improvements".
The group is planning to fill up to 113 new vacancies. "We are making significant investments in staff, brands and production capacity," said Jean Vandemoortele, president of the Vandemoortele Group executive committee. "For 2007, we are looking to effect E925m in turnover. We have just seen 9% growth in the first quarter."
Over 2006, Vandemoortele saw a 3% increase in earnings before interest and tax, to E51m. Turnover for its frozen dough, bread and Viennoiserie rose 5%, while fats and margarines saw 2% growth.