A 100-million-euro investment project for Latvian economy

Ovostar Union Group company GALLUSMAN and Adven are planning to partner-up in a 100 million euros investment project for establishing a modern egg production plant in Latvia with up to 200 new working places.

The project will have a favorable impact on the Latvian economy and will create business development opportunities for many Latvian companies - grain growers and suppliers, packaging producers, transport and other services providers. In addition, the new plant will also create a large number of new working places which has a positive effect on the economic activity, particularly in the rural areas, as availability of new, well paid working places reduces the outflow of rural population to cities or other countries.

The new plant is expected to export up to 90% of all its production. From 2015, Latvia based company Ovostar Europe, a sister company of GALLUSMAN, maintains and develops the cooperation of Ovostar Union partners in the EU and will take care of the export sales. Ovostar’s target is also to expand in the new markets in Europe and the Middle East to mention.

Currently, the process of environmental impact assessment for the plant project takes place, which is expected to be completed by the end of the year. The construction works are planned to be commenced in 2021.

Cooperation enables companies to focus on their core business

“We are considering partnership with Adven due to their transparent and comprehensive solution. Involving a strategic partner like Adven would allow us to fully focus on our core business,” says Arnis Veinbergs, co-owner and Chairman of the Board of GALLUSMAN.

Adven is an energy supplier and operator with an extensive know-how and ample resources to create and operate holistic utility services with almost 40 years of experience in the Nordic and Baltic countries.

GALLUSMAN and Adven have signed a LOI contract and are cooperating to find the best possible energy and infrastructure solutions for the new egg production plant.

 

Environmentally and economically friendly plant

Adven strives to be part of the solution to climate change and believes in making a difference with every sustainable energy solution they find, build and run together with their customers.

“From the very first meeting GALLUSMAN emphasized their ambition towards circular economy solutions and it fits perfectly with Adven’s strategy. The new egg production plant will be efficient, green and it will utilize its waste streams in order to minimize its potential environmental impact. Circular production includes lowered CO2 footprint that contribute to environmental and economic gains,” says Kristaps Greidāns, Business Developer at Adven Latvia.

Esko Aho, the Chairman of the Board of Adven and Finland's Prime Minister in 1991-1995, sees the greater gain of this project: "The Project of this scale is significant not only for Latvia, but for the whole Northern Europe region. Adven is proud to be part of it, as this will give positive contribution to the Latvian economy and increase its competitiveness,” says Esko Aho.

After the project is implemented GALLUSMAN will become the leader in the field of livestock farming, poultry farming, and trade of pet and animal feed in Latvia and the largest production company of egg products in the Northern Europe.

 

Additional information:

Kristaps Greidāns, Business Developer at Adven Latvia - ph. +371 2200 8455, kristaps.greidans@adven.com

GALLUSMAN

The company GALLUSMAN is part of the Ovostar Union Group. Ovostar Union Group of Companies (2011) is one of the Ukrainian leading agro-industrial companies and is among five largest producers of egg products in Europe. The business model provides full production cycle – from the breeding of young stock to the production of the highest quality shell eggs and their products. In 2019, the Group’s turnover reached $104m and it employed about 1600 workers.

For more information, please visit: gallusman.com and ovostar.ua

 

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