GREECE: Georgiadis to invest in upping production
G. Georgiadis has announced plans to upgrade equipment and build a facility extension next year. The Greek wine company said yesterday (15 December) that it would spend EUR300,000 (US$351,000) on the moves in 2006.
Georgiadis, based in northern Greece, specialises in producing retsina and has recently launched a new type of retsina white wine in a 0.25-litre bottle.
Last year, the company registered full-year profit of EUR38,000 based on sales of EUR1.5m.
Earlier this year, the Greek government unveiled plans to boost the country's wine industry with a support package to promote wine exports. As well as supporting wineries seeking to modernise and build new facilities, the government said it is also planning to create regional professional trade groups to control various stages in winemaking.
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