GEA Wins Order From Novozymes For Functional Protein Plant In U.S.; Stock Up

German food and beverages company GEA Group AG (GEAGF.PK,GEAGY.PK) announced Thursday that it has received an order from Denmark-based biotechnology customer Novozymes for a new functional protein plant in Nebraska, USA. The company said the order value is well into the high double-digit million-euro range.

With the order, which is one of the biggest in its history, GEA said it is further expanding its market position in the dynamically growing new food market.

The new plant will produce plant-based proteins for the plant-based food industry. Building the new factory will start later this year and is expected to be completed towards the end of 2023.

GEA will now construct the process systems, which include membrane filters, mixers, homogenizers, heat exchangers, pasteurizers and UHT units, cleaning and filling systems as well as the pump and valve technology. Installation will start mid-2022. The production capacity initially built can easily be expanded to multiply the capacity in the future as demand grows.

Novozymes is the world's largest supplier of enzyme and microbial technologies. The new plant covers the manufacturing steps from harvesting to separation of proteins.

In Germany, GEA shares were trading at 40.94 euros, up 1.3 percent.

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