Last checked at 15 Jul 2010 12:00
PRESS RELEASE
June 15, 2010, Kyiv, Ukraine
MHP S.A.
Agreement signing with EBRD
MHP S.A. ("MHP" or the "Company", LSE ticker: "MHPC"), one of the leading agro-industrial companies in Ukraine focusing on the production of poultry and the cultivation of grain, today announces the signing of a Loan Agreement with European Bank for Reconstruction and Development ("EBRD").
Under the Agreement, EBRD is providing a U.S.$50 million loan, which consists of a U.S.$35 million working capital loan and U.S.$15 million, which will be channeled to energy efficiency improvements, in particular, the installation of a biomass boiler, the modernization of the existing storage and the construction of new cold storage units at MHP's meat processing plant. The Company is also planning to replace the existing energy intensive cooling equipment as part of the project.
Gilles Mettetal, EBRD Director for Agribusiness, said: "By supporting MHP, the Bank maintains its focus on financing strong local companies and brands. The project also underscores the EBRD's commitment to supporting energy efficiency initiatives across all the projects that it finances."
Yuriy Kosyuk, CEO of MHP, said: "This transaction will serve to strengthen and support our expansion further. It will enable us to continue to implement our vertical integration strategy by expanding our operations to deliver high-quality products for the domestic market and run our business efficiently."
For further information please contact:
| Financial Dynamics Ben Foster (London) Marc Cohen (London) Leonid Solovyev (Moscow)
For investor relations enquiries Anastasiya Sobotyuk (Kyiv)
| London: +44 20 7831 3113 Moscow: +7 495 795 06 23
Kyiv: +38 044 207 99 55 a.sobotyuk@mhp.com.ua |