Astarta receives antimonopoly permission to buy two sugar plants

Astarta (AST PW: BUY) received permission from the Antimonopoly Committee of Ukraine to acquire two sugar plants in Khmelnytsk region – Narkevichskiy and Volochiskiy. In February 2008, Astarta announced it would acquire these two sugar plants from Ukraine’s fifth-largest domestic sugar producer, Euroservice, as well as six other agricultural firms in Khmelnitsk Region. Narkevichskiy pant’s refining capacity will reach 3.42 ths mt of sugar beets per day after current reconstruction at the mill is completed; while Volochiskiy plant’s refining capacity is 2.35 ths mt of sugar beets per day. Olha Pankiv: Astarta’s management today confirmed to us the acquisition of the Narkevichsky Mill, and said that Volochisky is now being leased, but negotiations to purchase it with Euroservice are underway. Astarta leases 155 ths ha of land currently, including land from the Narkevichsky Mill. By the end of the year, the company intends to increase its land under lease to 160 ths ha.