MHP expands land bank to 240,000 ha via new acquisition

Myronivsky Hliboproduct (LSE: MHPC LI) announced this morning that that it acquired 100% of Ridny Kray LLC, whose principal activities are the cultivation of grain in Khmelnytsky region.  Ridny Kray LLC has more than 11,000 hectares under its control and will become part of one of MHP’s grain growing enterprises – CJSC Zernoproduct MHP. Ruslan Patlavskyy: The acquisition increases the total company’s land bank to over 240,000 ha and bodes well with its target of 400,000 ha in 2-3 years, providing MHP with enough grain to support expected poultry output growth over 2013-15 with the launch of its Vinnytsya poultry factory.