Ukrzernoprom Agro To Create IR Department

Ukrzernoprom Agro, part of MCB Agricole (4GW1 GR: N/R), announced that it has brought onboard international experts to help implement a management optimization project that the company plans to complete by June; among other things the project will create an Investor Relations department. Ukrzernoprom Agro said it has already begun its spring campaign, having already sown 900 hectares with early spring crops in Mykolaiv, Odesa and Vinnytsya regions and Crimea. Ukrzernoprom Agro also said it has signed contracts to purchase 54 MTZ-82 tractors and nine MTZ-1221 tractors; as well as 19 combines, 19 corn reapers, seeders, cultivators, harrows from international companies Claas, John Deere, Amazone, Geringoff, Deutz-Fahr. Anna Dudchenko: In our view, the company’s recent steps to improve corporate governance and business processes are evidence of adherence to plans declared during the share offering and we believe will be a trigger for the stock’s price. The start of the company’s spring sowing campaign corresponds to the company’s previously stated plans to cultivate 29 ths ha of high yield spring crops this year, including wheat, corn, and sunflower seed.