At a press conference on Thursday 28 July 2016, Luxembourg's Deputy Prime Minister and Minister of Economy, Etienne Schneider, presented details of an investment project involving the Greek food group FAGE involving an investment of €100 million and creating 100 new jobs in Luxembourg.

The investment project is to establish a Greek yogurt production plant in the Wolser industrial zone in Bettembourg / Dudelange.

The FAGE Group is a recognised player in the international dairy industry, while having preserved its character of a family business. It is currently in the third generation of the Filippou family who entered the food market through the backdoor by opening a creamery in 1926 in Athens. A decisive step was taken in 1964 with the installation of a first yogurt production plant. The first exports date back to 1989 with the introduction of FAGE products on the UK market.

The group has a production unit in Greece and, since 2008, a Greek yogurt production plant in Johnstown in New York state, USA, which is comparable in size to the one planned for Dudelange. FAGE exports its products to 40 countries, including Great Britain, Italy, Belgium and Germany which are the most important European markets.

Minister Schneider, said "For the implementation of the factory site, Luxembourg has been competing with other countries. Once again, our assets have worked in our favour as close relationships with governments, the stable political and economic environment and the proximity of the Grand Duchy with the markets targeted because of its location in the heart of Europe. As for the holders of other industrial projects recently announced, I am delighted that FAGE would also hire job seekers registered with ADEM."

The Chief Operating Officer (COO) of FAGE International SA, Kyriakos Filippou, commented "The FAGE group installed its headquarters in Luxembourg in 2012, which explains in part also our interest to locate a production unit here serving the European market. We are targeting an annual production of 40,000 tons of yogurt or more. We want the plant to be operational in late 2018 and we look forward to playing an important role in the national economy."

Photo by MECO (L-R): Patrick Nickels, Ministry of the Economy; Étienne Schneider, Deputy Prime Minister and Minister of the Economy; Kyriakos Filippou, FAGE International SA; Athanassious Filippou, FAGE International SA