APF Holdings (NASDAQ: EGG), one of the leading egg producers in the Baltic region, today proudly announces the commencement of construction site preparations for its state-of-the-art sorting, egg processing, and warehouse facilities in Aluksne. This significant milestone underscores our dedication to investors and marks the realization of our ambitious investment goals outlined in our recent Initial Public Offering (IPO).
As outlined in the IPO prospectus, APF is swiftly moving forward with the initial investment phase, focusing on the development of cutting-edge egg sorting systems, liquid egg product production lines, and the expansion of our warehouse infrastructure. Collaborating with AIMASA, a highly reputable Latvian builder chosen through a competitive public tender, we have initiated site preparations. The investment for this phase totals 3.7 million euros, with the project scheduled for completion in the first half of 2024, and operations set to commence in the third quarter of the same year.
Hermanis Dovgijs, Member of the Board at APF Holdings, expressed his enthusiasm, stating, "This milestone represents a pivotal moment for APF Holdings as we execute our IPO investment objectives. We have already started offering liquid egg products to both our existing and new customers, sourced from independent producers using our Aluksnes eggs. The strong interest we have observed from customers in egg products made from eggs beyond our farm's own production is encouraging. By initiating egg processing in Aluksne, APF is ensuring a consistent supply, strengthening our market position, and exemplifying our unwavering commitment to investors through innovation, operational excellence, quality, and sustainability."
Prior to groundbreaking for the new facilities, APF is strategically enhancing existing infrastructure. We have initiated preparation works for the construction of two new barns in spring 2024. Simultaneously, we are optimizing current sorting facilities and warehouse operations, bolstering APF Holdings' capabilities in egg processing and distribution. These initiatives align perfectly with our dedication to meeting market demands, driving innovation, and fostering environmental sustainability.
In addition to contributing to the local economy through job creation, APF Holdings remains steadfast in our commitment to transparency and open communication with stakeholders. We will provide regular updates on the construction progress through our official communication channels.
APF Holdings (NASDAQ: EGG) is a dynamic group of companies engaged in poultry farming, chicken egg production and trading, as well as gas and organic fertilizer production related to poultry farming processes. Our portfolio includes SIA Alūksnes putnu ferma (poultry farming and egg production), SIA APF Trading (wholesale trade in chicken eggs), SIA Oluksne (providing poultry farming and egg production services), SIA APF Energy (gas and organic fertilizer production), and SIA Preiļu putni (poultry farming and young chicken rearing). Founded in 2017, APF Holdings has become a leading player in the Baltic region's poultry and egg industry.