Ovostar Union N.V. (WSE: OVO) (hereinafter the Group), a vertically integrated holding company, one of the leading Ukrainian egg and egg products producers announces full completion of the 2011-2012 production capacities expansion program that has been declared during the Group’s IPO.
Implementation of the 2011-2012 investment program was aimed at expansion of egg production and egg processing capacities. Full effect of this program will be reached in 2013. Egg production volume will increase by 93% to 1,054 mln eggs per annum while egg products production volume will increase by 80% to 9.7 ths tons per annum compared to the 2010 production volumes.
In line with the investment program, the Group has implemented the most advanced poultry and egg processing technologies. High-end equipment ensures production of eggs and egg products that satisfy requirements of the most demanding clients.
Last week the Group presented outcomes of the investment program to the European investors who have visited the Group’s production premises in Vasylkiv. During the event investors were able to assess the expanded capacities of the Poultry Farm Ukraine and Egg Processing Plant Ovostar industrial complex.
In June 2012 Ovostar Union initiated the next investment program which will require approximately mUSD 35 mln of investments in 2012 and 2013.
“Ovostar Union Group does not rest on its laurels and develops constantly, expanding its capabilities. Through our investment programs we are implementing the most up-to-date technologies. This allows us to benefit from economies of scale and improve both quantitative and qualitative parameters.
Following this strategy we shall be able to fully satisfy increasing demand of the expanding retail chains for high-quality branded eggs as well as demand of food processing companies present on Ukrainian market for high-quality egg products,” - said Borys Bielikov, CEO of Ovostar Union.