Ovostar Union continues to expand production capacities
Ovostar Union, one of the leading producers of eggs and egg products in Ukraine produced 230 million eggs in January-March 2014, which is 7% higher than in January-March 2013.
The company announced that it will continue its investments in the expanding of production capacities despite the current political crisis and uncertain situation in the country's economy.
According to information provided by the company, egg sales increased by 13%, up to 144 million units, due to increased demand from the main sales channels. At the same time, sales of dry egg products rose by 22%, up to 423 tonnes due to increased exports.
CEO of Ovostar, Gennady Belikov, commented that the management of the company hopes for the stabilisation of the situation in Ukraine in the coming months. According to him, within the concept of organic growth, the company started the implementation of a new investment program at the production site in Stavishche of the Kiev region. Within this program the company intends this year to commission three new poultry houses holding 320,000 animals each.
The voluime of processing of eggs in January-March 2014 declined to 68 million units from 70 million units in January-March 2013, while sales of liquid egg products decreased by 9%, to 1,492 tonnes due to reduced demand from key business customers after Russia imposed restrictions on the supply of Ukrainian confectionary products.
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