Bimal Group takes over Novo Sunce

by   CIJ News iDesk VII
2019-11-29   09:56

Bimal Group has become the majority stakeholder in the Novo Sunce edible oil plant in Sombor, northern Serbia. The takeover is an effort to consolidate and strengthen the edible oil sector in the Western Balkans region, according to Bimal CEO Ilija Studen. An initial €35m is expected to increase the capacity of the plant, with further investments, totaling €20m, to follow, said Studen. The plant processes sunflowers, soya seeds and rapeseed.