2013-08-22 07:04:03 -
Second largest animal feed market in Eastern Europe
Nutreco announced today that it has signed an agreement to enter into a joint
venture with its existing experienced partners who have an extensive sales and
distribution network in Ukraine. Nutreco will take an initial 1/3rd share in the
company, Dutch Feed. This joint venture will allow Nutreco's premix & feed
specialties business, Trouw Nutrition International, a market leadership
position in a growing market.
Nutreco has been operating a sales office in Ukraine since 2006, and since 2011
has operated a feed specialties plant owned by Dutch Feed which will be
incorporated in the joint venture.
Ukraine is the second largest animal feed market in Eastern Europe after Russia.
Its feed market has been growing strongly and is expected to continue to grow
5-10% per year. Ukraine is a leading cereal producer and the country is expected
to become an important meat supplier to Europe.
Dutch Feed had revenues in 2012 of approximately € 15 million. The joint venture
has one feed specialties plant in the Vinnytsya region of Ukraine. It produced
around 20,000 tonnes of concentrates and young animal feeds in 2012 and is
expected to increase its production to 30,000 tonnes in 2013. Closing of the
transaction is subject to gaining regulatory approval from the Ukrainian
END OF PRESS RELEASE
Note to the editor (not for publication)
This press release is also published in Dutch. In the event of differences, the
English language version shall prevail as the authoritative version.
Nutreco's 'Ambition 2016 - driving sustainable growth' is to grow and improve
profitability by providing innovative and sustainable nutritional solutions for
its customers and is expected to result in an EBITA of € 400 million by 2016.
This will be realised by focusing on a higher added value portfolio of
nutritional solutions such as premixes, feed specialties and fish feed, and by
expanding into the growth geographies of Latin America, Russia, Asia and Africa,
which will see the largest increases in both production and consumption of
animal protein food products.
Nutreco is a global leader in animal nutrition and fish feed. Our advanced feed
solutions are at the origin of food for millions of consumers worldwide.
Quality, innovation and sustainability are guiding principles, embedded in the
Nutreco culture from research and raw material procurement to products and
services for agriculture and aquaculture. Experience across 100 years brings
Nutreco a rich heritage of knowledge and experience for building its future.
Nutreco employs approximately 10,000 people in 30 countries, with sales in 80
countries. Nutreco is listed on the NYSE Euronext stock exchange in Amsterdam
and reported annual revenue of € 5.2 billion in 2012.
For more information:
Jurgen Pullens, Director Investor Relations
Telephone: +31 (0)33 422 6134
Mobile: +31 (0)6 51 599 483
The full press releases in English and Dutch are attached in the pdfs below.
Nutreco enters joint venture in growth market Ukraine:
Nutreco gaat joint venture aan in groeimarkt Oekraïne:
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Source: Nutreco via Thomson Reuters ONE