December 15, 2010

Ukraine's Agroleague to begin dairy venture in 2015

The Agroleague group of companies in Ukraine's Kharkiv region plans to start manufacturing dairy goods in 2015 with a EUR1.45 million (US$1.94 million) investment.

In the next few years, Agroleague intends to put in EUR1.45 million (US$1.94 million) in purchase and modernisation of equipment for production of dairy goods and purchase of 200 highly productive dairy cows. It also plans to spend EUR1.07 million (US$1.43 million) for increasing the capacity of its oil processing plant and its line for bottled oil production.

Agroleague also intended to reach a capitalisation of EUR30 million (US$40.05 million) in 2014. It raised EUR1 million (US$1.34 million) through private floatation of 16.67% of its shares on the Warsaw Stock Exchange, thus increasing its capitalisation to about EUR6 million (US$8.01 million).

Earlier, the Agroleague group of companies has been operating on the Ukrainian market of agricultural products since 1992. The group's enterprises grow a wide range of grain crops, produce sunflower oil, and breed dairy livestock.

The group of companies cultivates more than 5,500 hectares of land in the Kharkiv region. The capacity of its sunflower oil processing plant is 20,000 tonnes per year. It has a herd of more than 500 heads dairy cattle.