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Ukraine’s leading poultry producer mulling purchase of assets in Russia

Ukraine’s leading poultry producer Agroholding Mironovsky Hliboproduct (MHP) is mulling the purchase of Russian assets, reported According to Usapeec, Yuri Kosyuk, Chairman of the Board of MHP said the firm is currently on the lookout for potential acquisition investments in Russia.

Yuri Kosyuk said MHP disposes the funds for buying businesses in Russia and Europe. Even so, the chief reiterated that that it is difficult to forecast when the relevant deals will be concluded. Last year, MHP increased its net profit by 34.7 per cent reaching US$215.45 million and revenues increased by 32.8 per cent – up to US$944.21 million, said usapeec. 

In addition in 2011 the company is planning to invest in its development about US$320 million that is 43.5 per cent more than compared to the year 2010.

According to usapeec, Yuri Kosyuk said MHP is planning to invest in the production of grain, increasing sales of finished meat products, but the main funds will be allocated for the construction of poultry plant in the Vinnitsa region. About 85 per cent of all funds will be invested in this project.

MHP plans to put the plant into operation by 2013 and plans its first production line will start operating at a full capacity (220,000 MT of poultry meat per year) by 2015. Total capacity of the complex will reach 440,000 MT, said Usapeec.

MHP is the leading poultry producer in Ukraine, trading under the Nasha Ryaba. In addition to poultry, the company produces and sells finished frozen products, sunflower oil, and fresh beef of premium class, foie grass, sausages, smoked meats and fruits. MHP also focuses on cultivation of corn, sunflower, wheat and rapeseed.

Ukrainian agricultural producer MHP plans to boost revenue this year thanks to a larger land bank and the launch of poultry exports to the European Union, reiterated Yuri Kosyuk. Kosyuk said the firm expects significantly higher revenues than in 2010. MHP’s land bank is 60 per cent larger this year.

MHP accounted for approximately 43% of all chicken commercially produced in the country in 2009. MHP is one of Ukraine’s leading agro-industrial companies. Founded in 1998, the group primarily focuses on rearing chickens, and on producing and selling high-quality chicken products — principally under the “Nasha Ryaba” brand. For the past 8 years the “Nasha Ryaba” brand of chilled chicken has achieved more than 95 per cent brand recognition, enabling it to be sold at a premium over its closest competitor.

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