December 5, 2011


Industrial Milk Company plans to increase grain storage capacities


The Industrial Milk Company in Kyiv has plans to increase grain storage capacities by 418,000 tonnes to 627,000 tonnes before the end of 2015, Ukrainian News has learned from a spokesman for the company.


Apart from this, Industrial Milk Company intends to increase the potato storage capacities from the current 16,000 tonnes to 120,000 tonnes.


Also the Company has announced the intention to expand the area of farming land in use five-fold to 283,000 hectares. It says that as early as by the 2012 spring sowing campaign the area of farmlands will have increased by 100,000 hectares.


Information from Industrial Milk Company, the reaping of all agricultural crops but corn has already finished.


They have harvested 14,400 tonnes of sunflowers and 4,996 tonnes of soy.


The gathering of corn is approaching end, this year its yield makes 89 centners per hectare, by 54% higher than in 2010.


In late July and early August the Company signed two contracts for realisation of 50,000 tonnes of corn in total at the price of US$280 per tonne.


As Ukrainian News earlier reported, Industrial Milk Company finished the July-September quarter with a consolidated net profit of US$2.950 million.


Industrial Milk Company's revenue rose 27.8% or US$0.826 million to US$3.792 million in the third quarter of 2011 against the same period of 2010.


In April, Industrial Milk Company S.A. (Luxemburg), the managing company of Industrial Milk Company, raised PLN80.730 million (US$29.699 million) from floatation of 24% of its shares on the Warsaw Stock Exchange.


Industrial Milk Company engages in production of grain, fodder, and oilseeds, as well as milk, meat, flour, and grain mixtures.


Industrial Milk Company consists of the Burat limited liability company and the Mlibor closed joint-stock company, engaged in the production of animal feed.

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