Linas Agro Group - Notification on material event

Linas Agro Group updates processing capacities and merges sales departments in Latvian poultry companies

Panevezys, Lithuania, 2015-05-13 10:17 CEST (GLOBE NEWSWIRE) -- AB Linas Agro
Group began reforms in Latvia operating poultry farms in order to increase the
competitiveness of enterprises. 

It is planned to upgrade production lines to produce more and a wider variety
of poultry products. This year, the Group will invest up to 8 million euros
into new technologies, and it would more than double the performance of the
processing line. Another important direction of the reforms - merge of sales
departments of the companies. "Just finished the negotiations with equipment manufacturers, also we are
strengthening the sales team. Since the two poultry farms are no longer
competitors, we merge the sales departments and eliminate the duplicate
functions of departments,"- says Andrius Pranckevicius, Deputy Managing
Director of AB Linas Agro Group. 

Last year was the best in the history for the Latvian poultry companies, owned
by AB Linas Agro Group - AS Putnu Fabrika Kekava and SIA Lielzeltini (managing
also SIA Cerova and SIA Broileks). The total consolidated sales of poultry
group over 2014 calendar year, as per unaudited data, amounted to 62 million
Eur, EBITDA was 8 million Eur. 



About AB Linas Agro Group

AB Linas Agro Group is an agribusiness parent company engaged in the production
and trade of grains, oilseeds, feedstuff, poultry and poultry products, also
agricultural inputs. It controls companies in Lithuania, Latvia, Estonia and
Denmark. The group consists of international agricultural production trading
company in Lithuania AB Linas Agro, grain storage company UAB Linas Agro Grūdų
Centras KŪB (that manage 8 operating and two being built grain elevators),
trading companies in Latvia and Denmark, group of agricultural land management
companies ŽŪB Landvesta, holding of agricultural companies UAB Linas Agro
Konsultacijos, agricultural inputs supplier UAB Dotnuvos Projektai, logistic
company UAB Jungtinė Ekspedicija, Latvian poultry companies AS Putnu Fabrika
Kekava and SIA Lielzeltini, also other companies. The financial year of the
Group begins on 1 July. 

From 17 February 2010 AB Linas Agro Group is included in the main list of
companies of Nasdaq Vilnius stock exchange. 



For more information please contact: Tomas Tumėnas, Finance director of AB
Linas Agro Group, mob. +370 682 36 616, e-mail t.tumenas@linasagro.lt