KIEV, UKRAINE - AVANGARDCO INVESTMENTS PUBLIC LIMITED (LSE: AVGR) (“The Company” or "Avangard"), the largest producer of shell eggs and dry egg products in Ukraine, is pleased to announce that it has completed the construction of the first stage of facilities at its Avis egg production complex for laying hens (“Avis” or “Complex”). The official opening ceremony of the Complex took place yesterday. The opening ceremony was attended by the representatives of municipalities of Khmelnitsky region, Nataliya Vasylyuk, CEO of the Company, the representatives of investors and investment funds.
Nataliya Vasylyuk, Chief Executive Officer of Avangard, said:
“This event marks a major milestone in the company’s history and I am delighted that construction has been completed on time, which is what we promised investors at the time of our IPO in 2010. I am also pleased to announce that the Company’s management made a decision to increase capacities of "Avis", in particular the capacity of the site for rearing young laying hens and site for laying hens will be increased from 1,5 million to 2.5 million and from 3 million to 5 million heads respectively. The capacity of the biogas unit will be expanded from 9.74 mW to 20.4 mW of electric power per hour and from 11 mW to 22 mW of heat power per hour. ”
Avis is a large-scale investment project that is being built in accordance with the best and most modern construction and agricultural practices, utilising state of the art energy saving technologies. The Complex is designed to be labour-efficient, with a high level of automatization across all production processes. The equipment is provided by leading suppliers, including ANDRITZ FEED&BIOFUEL A/S (Denmark), Big Dutchman International GmbH (Germany), CimBria Unigrain A/S (Denmark), OFFICINE FACCO&C.Spa (Italy), MOBA B.V. (the Netherlands) and STULZ H+E GR. PPE (Germany).
Construction of "Chornobaivske" production complex is progressing as well as the construction of "Avis".
For IR relations enquiries:
For further information please contact:
Victoria Korolchuk
Avangard
Head of Investor Relations
phone.: +38 044 593 28 60
mob.: +38 067 214 84 23
e-mail: v.korolchuk@avangard.co.ua
Financial Dynamics London
Marc Cohen
Hazel Stevenson
+44 20 7831 7103
Financial Dynamics Moscow
Oleg Leonov
+7 495 795 06 23