Norofert invests EUR 0.9 mln in organic fertilizers production line
Norofert (BVB: NRF) said it inaugurated a RON 4.5 mln (EUR 0.9 mln) high-capacity production line for soil fertilizers, which had been installed at the production facility in Filipestii de Padure.
The line has a production capacity of 240 tonnes per day. It was financed partly via the funds raised in the capital increase operation that the company carried out in 2021.
The commissioning of the new line came as a result of increased sales during the agricultural campaigns in recent years and increased market share for the company, both in the organic and conventional farming niche.
Prior to the installation of the line, Norofert had a limited portfolio of soil fertilizers.
The company estimates that the sales of granular soil fertilizers will increase by 20-25% each year as a result of the high demand for this product category.
Following this investment, the company becomes the largest producer of organic soil fertilizers in Romania, “gaining a unique competitive advantage over all the players” on the market.
(Photo source: the company)