Astarta plans to operate two additional mills this season

In a conference call on Monday, Astarta’s (AST PW: BUY) management said the company will operate Narkevychsky and Volochysky sugar mills (both in Western Ukraine) this season, in addition to the five plants it currently controls. The company confirmed the purchase of the Narkevychsky mill for an undisclosed amount, and said that the Volochysky mill will be leased for next season. The company said investments of USD 10-15 mln will be needed to upgrade Narkevychsky mill (2008-2010). Olha Pankiv: The move was as we expected; management announced plans to acquire the two mills in February 2008. Astarta’s capacity will grow by 32% to 23.3 mt of beets processed per day.