Univeg has announced in a press release its decision to increase the capital of its Argentinean subsidiary Expofrut in a bid to reinforce the financial position of the company.
The move to invest US$15m in Expofrut serves as fundamental part of a strategic plan to strengthen the business, according to parent company Univeg.
“The changing customer demands and the macroeconomic situation in Argentina require proactive measures,” explained Tom Paemeleire, Univeg’s COO of the Business Unit Fruit & Vegetables.
“Reinforcing our financial position in Argentina is part of our strategic plan. This strategic plan recognises the importance of Expofrut Argentina as a leading exporter of fresh produce.
Mr Paemeleire said Argentina is an important supply base for the key customers of the Univeg group, with the right conditions to grow superior fresh fruit.
“This potential needs to be further developed with a forward-looking market vision,” he added.
