Ukraine: Ovostar Union expands production capacities
Ovostar Union, the second largest producer of eggs in Ukraine, has announced investment plans to expand production capacities in 2014 despite the political unrest in the country.
The company reported that the difficult political situation in general is negative for business, but in fact, the management of the holding looks to the future with optimism and hopes that soon the situation will stabilise.
"Despite the current difficult political environment, the management of the company expects that the situation will stabilie in the future. Following the chosen concept of organic growth, in 2014 we launched a new investment program on the basis of our manufacturing facility in Stavysche," commented CEO of Ovostar Union NV Boris Belikov.
"This year, along with increased capacities for young and parent stock, we plan to commission three new houses for layers with the approximate capacity of about 320,000 bird places each," he said, adding that even in the current situation the company continues to strengthen its position on the Ukraine market.
So far in general, the crisis has had a minor effect on the egg market in Ukraine. During the first quarter of 2014 the price of eggs rose by 3%, while sales rose by 7% compared to the same period last year.
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