June 9, 2011

Globino invests in meat production this year

The Globino group (Hlobyne, Poltava region) will put in UAH212 million (US$26.5 million) into meat production and prepared meat goods in 2011.

In particular, investments in increasing capacity for production of sausage products will total around UAH52 million (US$6.5 million), purchase of new packaging equipment will amount UAH15 million (US$1.9 million), construction and purchase of equipment for the new plant for production of processed meat will be about UAH9 million (US$1.1 million) and the increase of capacity of logistics facilities and construction of a biogas plant will be approximately UAH23 (US$2.8) million.

Besides, the company intends to invest and expand the production of meat. In 2011, it plans to launch new breed reproducers at UAH17 million (US$2.1 million), construction of commercial loudspeaker to 5,000 sows, equipment and livestock at UAH16 million (US$2 million), construction and equipment acquisition for the three complexes for completion of growing at UAH23 million (US$2.9 million), construction and acquisition of equipment for the feeding complex at UAH57 million (US$7.1 million).

To finance these projects, the company will channel the profits, as well as borrowed funds.

Current production capacity of pig complexes amounts to 110,000 pigs per year.

The European Bank for Reconstruction and Development plans to provide Globino with US$25 million to upgrade and expand the production capacity of the group.

The group of companies Globino have includes Globinsky Meat Plant limited liability company, Globinsky Creamery joint-stock company, Globinsky milk and meat complex limited liability company, Globinsky pig complex and Globinsky Rayagrostroy limited liability company, Design and Construction Association Dnipro limited liability company.

According to the International Finance Corporation, the founder and sole owner of the group of companies Globino is Oleksandr Kuzminskyi.