Leading dairy company FAGE has announced it planned to build a new manufacturing facility in the Netherlands.
The new manufacturing facility at the Riegmeer Hoogeveen business park, budgeted at 150 million euros, will initially contribute an additional 40,000 tons of yogurt production capacity annually, FAGE said, and create 250 full-time jobs.
In this context, FAGE said it had signed an option contract for a 15-hectare plot with the municipality of Hoogeveen.
The new manufacturing facility is expected to be operational in the second half of 2024, reports state-run news agency amna..
Founded in 1926 in Athens, Greece by Filippou Brothers, FAGE had been headquartered in Luxembourg since 2012.
It is one of the major dairy brands in Greece and manufactures dairy products including milk, yogurt and ice cream.
Its product Total, the first commercial strained yogurt, was introduced, becoming a huge success also worldwide as “Greek yogurt.”
In October 2012, the company FAGE announced that it would be moving its headquarters out of Greece to Luxembourg. Reasons for the move include more favorable tax conditions, better access to bank funding, and a reduced exposure to the Greek financial crisis.
