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2010-05-24 08:00:00 CEST 2010-05-24 08:00:02 CEST REGULATED INFORMATION Linas Agro Group AB - Notification on material eventLinas Agro Group, AB strengthens trade of fertilisersThe joint stock company Linas Agro Group is buying farmer supply centres with fertiliser warehouses in Joniskis and Kedainiai from Arvi Fertis, UAB. By this step Linas Agro Group, AB seeks to strengthen its position in fertiliser import and retail trade by providing fertilizers to farmers participating in agricultural programmes. Linas Agro Grudu centras KUB, UAB run by Linas Agro Group, AB has signed the purchase and sale agreement with Arvi Fertis, UAB, by which Linas Agro Grudu centras KUB, UAB acquires Joniskis and Kedainiai-located farmer supply centres. The first centre consists of the land site of 2.56 hectares with an administrative building, fertiliser warehouses of 3.36 thousand cubic metres and fertiliser packing equipment, while Kedainiai-located centre consists of a farmer supply centre with an administrative building located in an area of 2.51 hectares, fertiliser warehouses of 2.63 thousand cubic metres and, also fertiliser packing equipment. The sum of the contract has not been revealed due to the mutual agreement of the parties. The acquired assets border with Linas Agro grain elevators in Joniskis and Kedainiai and have their separate railway roads. The fertilizers storage capacity of newly acquired warehouses will be 13 thousand tons and the total Linas Agro fertiliser storing capacities will reach 35 thousand tons. Trade in fertilisers by Linas Agro Group, AB was started in 1993 with the launch of oilseed rape and grain cultivation programmes. At the moment, fertilisers are stored in Linas Agro grain centres in Joniskis, Kedainiai, Siauliai, Vilkaviskis and an elevator of the cooperative Kupiskio grudai. In this financial year which started in July 2009 the company sold approximately 80 thousand tons of fertilisers. “Until now we did not import fertilisers into Lithuania ourselves, while this year we imported 20 thousand tons. With the acquisition of the warehouses we will buy fertilisers directly from the producers, therefore, profitability of this activity will rise. In the two next seasons we plan to increase our annual fertiliser sales up till 160 thousand tons as well as our market share in Lithuania,” Linas Agro Group, AB Board Chairman Darius Zubas says. The investments into two farmer supply centres with fertiliser warehouses will enable Linas Agro Group, AB to strengthen its position in fertiliser marketing in Latvia, too. Fertilisers are planned to be packed into FIBC bags in Joniskis farmer supply centre and transported to Latvia. Moreover, it is planned, that investments into fertiliser warehouses in Joniskis and Kedainiai will enable the company to increase its fertiliser sales by LTL 110 million until the end of the first half of year 2012. “We believe that the acquisition of farmer supply centres with fertiliser warehouses will bring double benefit to the company. To begin with, it will strengthen Linas Agro Group, AB positions in fertiliser import and increase the activity's profitability; further, it will enable us to provide farmers with the necessary means for the most attractive prices. The second positive aspect of this acquisition is that there is a possibility to build new grain storages in the future on large land sites bordering with our grain centres. Expansion of grain storages, which strengthens our main activities - trade in grain and oilseed rape, is an important part of our company's strategy, which has been consistently implemented since 2002,” D. Zubas states. About Linas Agro Group, AB Linas Agro Group, AB is an integrated agribusiness company engaged in international agricultural business, production and trade in agricultural produce and raw materials. It controls companies in Lithuania, Latvia and Denmark. The Group consists of the following companies: Linas Agro, AB, a Lithuanian company engaged in international trade in agricultural plant produce; Linas Agro, UAB controlling grain storages; Grūdų centras, KŪB (controlling grain storages in Kėdainiai, Kupiškis, Joniškis, Šiauliai and Vilkaviškis), grain trade company in Latvia - Linas Agro, SIA; international trade company in Denmark - Rosenkrantz A/S; Landvesta, ŽŪB, a group of companies controlling agricultural land; and Linas Agro Konsultacijos, UAB controlling agricultural companies. Financial year of the companies starts on the 1st of July. According to the data of the first half of the financial year the income stood at LTL 554,35 million while the net profit was LTL 25,7 million, also, 59% of income was gained from the trade of grain as well as oilseeds. In July 2009 - March 2010 the company sold 1,057 thousand tons of produce which is by 2,5% more as compared to 9 months of the FY 2008-2009. As of February 17, 2010 Linas Agro Group, AB is listed on NASDAQ OMX Vilnius stock exchange. More information: Andrius Pranckevičius Deputy CEO Linas Agro Group AB Ph. +370 687 71 419 E-mail a.pranckevicius@linasagro.lt |
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