MHP to invest USD 60 mln in 2010

Mironivskiy Hliboproduct (LSE: MHPC LI) plans to invest USD 60 mln in 2010, Interfax reported on Friday, citing Investor Relations Head Anastasia Sobotyuk. During a conference call this week, company management said about 50% of that amount would be directed to expand its sales network. MHP CEO Yuriy Kosyuk said planned capital investments in 2010 is significantly lower than in 2008 and 2009, when it was USD 265 mln and USD 171 mln, respectively, due to the completion of the second stage of the Mironivsky poultry plant. Kosyuk also said that the company expects to launch exports to Europe by mid-2010; it said the European market could account for up to 3-5% of total exports.