Finally on april 2015 Orogel Group, specialized in frozen meals and vegetables, could unlock 80 million euros investments dedicated to improve the production of high performance fabrics, including to widen the brand Verdurì with a new line of products. As Bruno Piraccini, managing director of Orogel says: “We have overcome bureaucratic obstacles to build a new production plant closest to the headquarter of Cesena. We are hoping to start next autumn”. However, in the Cesena headquarter the work for manufacturing high performance fabrics has already began.
Eventually this will be added to the planned expansion of the Ficarolo production plant. “Some of investments” -explains Bruno Piraccini- “will be used in the manufacture of building reinforcement frozen fabrics”. The opening of Ficarolo new frozen fabrics will be next june. Totally Orogel will invest 80 million in 30 months (in addition to the 95 million allocated over the past five years) and will take 80 employees that will add up to the existing 2,500 of the food group.
And the resources? “Part of the investments we finance them directly” – Piraccini says – “for those of medium term we turn outside: for example, for the new production plant in Cesena we are supported by the Cassa Depositi e Prestiti; for Ficarolo fabrics we benefit from a contribution of 30% from Region’s funds for industry and then in another project has been involved Isa, the public financial Mipaaf.”
Meanwhile the financial figures of the company was good last year. For example EBITDA improved by 2% to Eur 19.3 million and the cash flow was up 8% to Eur 21 million. It was also a positive performance in the first quarter 2015: Eur 13.9 million turnover as whole.
