9 Feb 2010

Kiwi fruit processing company to invest $8.5 million in new plant

12:37 pm on 9 February 2010

EastPack plans to invest another $8.5 million in new plant and automated equipment this year in post harvest, kiwi fruit processing.

The Bay of Plenty company is owned by growers and operates three sites in Te Puke, Edgecumbe and Opotiki.

EastPack says it will report increased revenues, earnings and profitability to shareholders to its suppliers for the year to December.

It aims to handle at least 18 million trays of kiwifruit this year, up 14% on last year. Volumes are expected to grow by another 10% in 2011.

Eastpack was the biggest supplier of gold kiwifruit last year.

Chief executive Tony Hawken says Eastpack expects to report a lift in earnings as well as higher fruit rebate payments and returns to its suppliers for the past year.