Ukrros engages in talks to acquire Orzhitskiy Sugar Plant

According to daily Kommersant-Ukraine, citing Ukrros (UROS: U/R) CEO Olexiy Krutybich, Ukrros is now in the process of acquiring the Orzhitskiy Sugar Plant from Ukrainian Food Company, Ukraine’s third largest sugar producer. The deal is expected to be completed in October. With the acquisition of Orzhitskiy Sugar Plant (daily processing capacity of 6 ths mt), Ukrros plans to increase its share of the domestic sugar market to 10-12% in quantity terms, compared to 9.2% in 2007. Olha Pankiv: If completed, the deal would compensate for the company’s 20% loss in capacity this season from its decision to mothball its Hubinikhskiy Mill in Dnipropetrovsk region due to a lack of sugar beets in the area.