Kernel Orders up to USD 17 mln in Equipment for Oil Extraction Plant

Kernel Group (KER PW: N/R), the second largest sunflower oil producer in Ukraine, announced yesterday that it concluded a contract with Europa Crown Ltd for up to USD 17 mln to purchase equipment for a new oil extraction plant in Mykolaiv region. As the company reported, the new equipment will enable processing of sunflower seeds, soybeans and rapeseeds; it will efficiently switch from one crop to another. Kernel Group listed a 36% stake on the Warsaw Stock Exchange in mid-November, raising USD 218 mln. The company planned to direct some of the IPO proceeds to construct the plant in Mykolaiv region.