Nibe Beverages Ltd is planning to invest €860,000 in new machinery and infrastructural upgrades through Malta Enterprise schemes for growing businesses, according to a press release by the government’s Department of Information (DOI).
Nibe Beverages has grown at a rate of 33% since 2017. In comparison to 2003 when the company’s staff only counted two, Nibe now provides job to 50 full-time employees. The company invested €1m in its business in 2017 and also entered the North African market, says the press release.
“Nibe Beverages is another example of the potential of a Maltese company, with an economy-stimulating government that considers their added-value,” said Chris Cardona, Minister for the Economy, Investment and Small Businesses, who visited the company in San Gwann along with Aaron Farrugia, Parliamentary Secretary for European Funds and Social Dialogue. The economy minister also praised the company for its sustainable operations that suggest awareness of the company’s impact on the environment. This aspect “is one that businesses should consider, as both business and country can benefit from it,” the minister added during his visit.
“This [Nibe’s success in growing] is the economic model our country has adapted: create work, create wealth, and ensure that wealth to participate in all layers of society. This wealth has been created with the capital that the government invests, with European funds, and by local and foreign business investment”, said Mr Farrugia.
The company benefited from a European fund for a project worth over €600,000, which supported the company’s zero-waste model adoption and new lines of production. Nibe also benefited from a labour training program financed by European funds, the DOI press statement adds.
Mr Farrugia underscored that the Business Enhance scheme used by Nibe is not limited to small and medium enterprises, but also available to start-ups and companies that want to diversify and engage in e-commerce.