Astarta plans to raise sugar production 29-42% in 2008
2 October 2008
At a press-conference yesterday Astarta (AST PW: BUY) General Director Viktor Ivanchyk announced the company’s targets for 2008-2012. Astarta plans to increase its sugar production by 29-42% to 200-220 ths mt in 2008 and to expand its land bank from current 160 ths ha to 180-185 ths ha in 2009. Ivanchyk said that the company is eying investments of USD 50-60 mln on modernization of its sugar plants and plans to construct grain silos with a one-time storage capacity of 200-250 ths mt until 2012. Olha Pankiv: The company’s plans are in line with our projections. We confirm our BUY recommendation on the stock.
