Ovostar Invests in New Housing, Equipment11 April 2013
UKRAINE - Ovostar Union has signed a 10-million-euro loan agreement for the purchase of new equipment and houses for egg production.
The Board of Directors of Ovostar Union N.V. has announced that the company has entered into a seven-year individual loan agreement of €10 million with Landesbank Berlin AG.
The proceeds of the loan are used to finance purchase of Salmet laying hen equipment and pre-fabricated poultry buildings.
The loan agreement is covered by the guarantee of Euler-Hermes Deutschland AG.
Obtained funds will be used for implementation of second stage of production capacity expansion program. The programme is due to be completed in 2013 while its full effect will be realised in 2014.
Ovostar Union is a group of Ukraine's leading agroindustrial companies and is among the country's top three egg producers.
ThePoultrySite News Desk