Latest news with #ChristophVitzthum
Yahoo
3 days ago
- Business
- Yahoo
Skanska wins contract to build Fazer's $467m chocolate factory in Finland
Skanska has secured a contract for the construction of Fazer's approximately €400m ($467m) chocolate factory in Lahti, Finland. The project aims to enhance Fazer's production capabilities with advanced technology and automation. Skanska's contract is worth €89m and will be included in its Nordic order bookings for the third quarter of 2025. The construction of the factory, located in the Pippo industrial area, is set to begin in the coming months, with operations expected to start in 2028. Fazer noted that the production of chocolates will also partially continue in Vantaa. The new facility will span approximately 33,300m² and integrate Fazer's chocolate expertise with automated production lines and technologies to produce new types of products. It will be carbon dioxide emissions-free while the efficient use of raw materials will significantly minimise production waste. Fazer Group president and CEO Christoph Vitzthum said: 'The investment of approximately €400m is the largest in Fazer's history and it is also significant from a Finnish food industry perspective. 'The new factory will support both our domestic as well as international growth and demonstrates our strong belief in the competitiveness of Finnish food production also in the international markets.' Fazer's investment is supported by Business Finland's industrial investment support programme. Fazer has completed a real-estate transaction with the City of Lahti to facilitate the construction phase, which will employ hundreds of professionals, totalling over 500,000 working hours. The investment will be financed through long-term debt, with a green finance framework allowing for the issuance of green financial instruments. Fazer's new project is expected to contribute to Finnish food exports, with the company already accounting for 15% of these exports. Recently, Skanska secured two new contracts in the US and Sweden: a rail link construction and a multisports facility development, respectively. "Skanska wins contract to build Fazer's $467m chocolate factory in Finland" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
3 days ago
- Business
- Yahoo
Finland's Fazer presses ahead with new chocolate factory
Fazer has decided to move forward with its plan for a new chocolate factory the Finnish group had put on hold amid concerns about the country's fiscal policy. Last year, Fazer paused plans to build a new plant in the southern city of Lahti after the Finnish government announced a proposal to raise VAT on confectionery. A year later, the idea was shelved. Today, Fazer said it would proceed with the project, with the site set to be completed in 2028 at a cost of €400m ($467.3m). 'The investment of approximately €400m is the largest in Fazer's history and it is also significant from a Finnish food industry perspective," president and CEO Christoph Vitzthum said. "The new factory will support both our domestic as well as international growth and demonstrates our strong belief in the competitiveness of Finnish food production also in the international markets." The facility, located in the Pippo industrial area of Lahti, will span around 33,300 m2. Lahti is already home to a Fazer crisps factory, a bakery, a gluten-free site and a xylitol facility. Fazer's confectionery brands include Karl Fazer milk chocolate, Geisha and Duml. The company also operates in the bakery, non-dairy, and plant-based food markets. It employs more than 4,000 people in Finland, with other production plants in Vantaa and Lappeenranta. Fazer said Vantaa will continue to host its biscuit factory, a 'large' bakery, head office operations, part of the chocolate production, and the Fazer Experience visitor centre. Lahti already houses a Fazer Mill, a sourdough bread factory, a bakery, a gluten-free bakery, and a xylitol factory. In May, Fazer announced an €11m investment to expand its rye bread production capacity in Lahti. In 2024, Fazer reported net sales of €1.18bn, with a 1% growth after currency adjustments. Comparable net sales, excluding the dairy division, rose by 3%. Comparable EBITDA increased by 3% to €141.4m, and the comparable operating result surged by 14% to €75.9m. Group net sales resulted in a profit of €34.7m, recovering from an €86.5m loss the previous year. "Finland's Fazer presses ahead with new chocolate factory" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
