Astarta builds a new milk farm

MG
31-01-2008, 17:03

Warsaw (Puls Biznesu) – The Ukrainian sugar producer wants to build a milk farm this year.

Astarta Holding, one of Ukraine’s biggest sugar producers, is going to build a farm with 1,500 cows and capacity of 7,000 tons. The company refuses to reveal any more details concerning this project.

“This is not a big project but a very promising one. The Ukrainian milk market is very dynamic and prices keep growing. We expect that milk prices will grow 20 percent this year up from USD 0.5 now”, Jana Kawuszewska, Astarta spokeswoman said.

The company is not going to export milk because internal demand is big enough.

A tender is going on to choose the construction company. Till the end of this week, offers may be submitted. Final decision will be made on February 20th. Construction works will last about 12 months. Production will be launched at the end of 2008 and beginning of 2009.

Today, milk production does not consist core operations for Astarta. 56 percent of sales are generated by sugar sales while milk and meat production generate 10 percent of revenues.

According to forecasts, Astarta had EUR 79m of sales, EUR 22m of EBITDA and EUR 17.5m of net income last year. In 2011, the results should grow to, respectively, EUR 176m, EUR 45m and EUR 33m.

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Podpis: MG

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