Astarta to Invest USD 11 mln in Farming Machines and Equipment

Sugar producer Astarta (AST PW: N/R) announced in a press release yesterday that it is purchasing USD 11 mln worth in farming machines and equipment as part of its plans to modernize its agricultural equipment. Among the equipment Astarta will acquire new tractors, seeding machines and harvester combines. The company has already signed contracts with American companies Amity Technology, Chief Industries Inc, Matthews Company and CNH America. Olha Pankiv: Astarta has recently increased its land bank to 133.5 ths ha, exceeding its earlier plan to have 120 ths ha by the end of 2007. The planned investment in cultivation equipment will allow the company to increase the efficiency of its agricultural operations.