NEWS

4 november 2011 Preliminary agreement to acquire agricultural enterprises 

The Board of Directors of Industrial Milk Company S.A. informs that a Subsidiary of Industrial Milk Company S.A. entered into the preliminary deal to acquire 6 Ukrainian companies which are leasing 9 500 hectares of land in the northeastern part of Ukraine (Bilopilsky district of Sumy region) with 5-10 years lease terms and a grain elevator.  

All land is the chernozem soil of the highest quality and located in the corn belt of Ukraine. There are excellent prospects to achieve high yields. 

All land is located in close proximity to the grain elevator which has the direct connection to the national railway network. The storage capacity of the elevator is 32 000 t.  Thereby the grain storage capacities of Industrial Milk Company S.A. will total 209 000 t (it is 18% increase from the current 177 000 t). The elevator is equipped with dryers (drying capacity is 400 t/day). There are developed logistics around the elevator. 

There is a prospect to develop one more efficient cluster of Industrial Milk Company S.A. in addition to the existing clusters in Poltava and Chernihiv regions. Industrial Milk Company S.A.is maintaining the existing business model.

After arranging the deal the farming land bank of Industrial Milk Company S.A. will be increased by 9 500 hectares and total 57 200 hectares. It is 50% increase of the farming land bank (from 38 000 ha to 57 200 ha) since completion of IPO in May, 2011.

In 2012 IMC S.A. is going to cultivate 100 000 ha.

Conclusion of an agreement will be announced according to the fact of the state registration.

5 september 2011 Winter wheat harvesting campaign complete

The Board of Directors of Industrial Milk Company S.A. (the Company) is pleased to report that the Company has completed its winter wheat harvest. 7,490 hectares were harvested, representing 18% of the total area to be harvested by the Company in 2011.

The Company’s total winter wheat harvest spiked by 68% year-on-year to over 31,000 tons owing to a 34% year-on-year expansion of harvested area (in line with the Company’s overall harvested area growth in 2011) and a strong 27% year-on-year yield recovery to 4.2 tons per hectare (20% above the national average). The quality of the wheat also improved due to favorable weather conditions – 70% of the harvest is food quality vs. c.60% for Ukraine.

The Company has started its potato harvest, for which early yield numbers indicate 70% growth in comparison to 2010.

The Company will soon begin its corn and oilseeds harvests, which together represent 53% of total area to be harvested. The excellent present condition of the crops gives us reason to expect considerably higher yields than last year.

8 june 2011 Spring Sowing Campaign is completed 

The Board of Directors of Industrial Milk Company S.A. (the Company) informs that the Company has completed its spring 2011 sowing campaign on more than 37 948 hectares, up 7% year on year.

Including the autumn planting, the Company has now planted 19 835 ha of crops in the central region and 18 113 ha in the northern region.

The grain, oilseeds and technical crops were planted on 32 967 ha. The fodder crops were planted on 4 313 ha. In the Chernihiv region potatoes were planted on 668 ha. 

The sowing season was started on the 15th of April and finished on the 25th of May accordingly to the physiology of the planting crops. 14 866 ha of corn, 5 039 ha of sunflower, 2 762 ha of soybean, 2 172 ha of lupine were planted. During the autumn sowing campaign in 2010 the Company planted mainly winter wheat (6 935 ha), rapeseeds (614 ha) and rye (329 ha).

The Company has now planted 100% of its available land bank. At present all crops are in good condition.

 6 june 2011 Purchase of agricultural enterprises

The Board of Directors of Industrial Milk Company S.A. informs that  a Subsidiary of Industrial Milk Company S.A. entered into the deal to acquire three Ukrainian companies leasing 7 500 hectares of land in the central and northern parts of Ukraine (with 5 years lease term). All land is located in close proximity to the existing clusters of Industrial milk Company S.A. in Poltava and Chernihiv regions. 

The deal includes, among other assets, the livestock breeding division of 1 900 heads, including 900 milking cows, and grain and oil seeds crops.

After arranging the deal the farming land bank of Industrial Milk Company S.A. will be increased by 7 500 hectares and total 45 500 hectares. 

Conclusion of an agreement will be announced by June 15, 2011 according to the fact of the state registration.

The Board of Directors of Industrial Milk Company S.A. informs that  a Subsidiary of Industrial Milk Company S.A. entered into the deal to acquire three Ukrainian companies leasing 7 500 hectares of land in the central and northern parts of Ukraine (with 5 years lease term). All land is located in close proximity to the existing clusters of Industrial Milk Company S.A. in Poltava and Chernihiv regions. The deal includes, among other assets, the livestock breeding division of 1 900 heads, including 900 milking cows, and grain and oil seeds crops.After arranging the deal the farming land bank of Industrial Milk Company S.A. will be increased by 7 500 hectares and total 45 500 hectares. Conclusion of an agreement will be announced by June 15, 2011 according to the fact of the state registration.

4 may 2011 Listing of  INDUSTRIAL MILK COMPANY

On 4 May 2011 the WSE Main List saw the arrival of INDUSTRIAL MILK COMPANY SA.

IMC SA is the 16th new entrant on the WSE Main List in 2011 and the 408th issuer on that market. 

IMC SA is also the 30th foreign and 6th Ukrainian company listed on the Warsaw’s main floor.

Source: WSE.

21 april 2011  PRESS RELEASE