Press-release

Agricompanies of Milkiland Group successfully finished harvesting of early grains and gathered 11,190 tons of grain, which is almost twice more than in 2010. High productivity contributed to this success, since Milkiland’s average crop yields are well above the Ukrainian and regional averages.
In particular, agricompany “Krasnosilske Milk” in Chernigov oblast yielded 4.14 tons of winter wheat per hectare, significantly higher than the average yield in the oblast (2.7 tons/ha) and in Ukraine(3.4 tons/ha). In addition, Milkiland’s agicompanies in this oblast achieved the yield of spring barley of 3.47 tons/ha (compared to the average of 2.2 tons/ha in the Chernigov oblast and 2.4 tons/ha in Ukraine).
Agricompany “Iskra” in the Sumy oblast harvested winter rye with the average yield of 3.81 tons/ha (compared to 2.3 tons/ha in this oblast and 2.2 tons/ha in Ukraine respectively). At this agricompany, a grain drying facility with drying capacity of 356 tons per day has been built and launched in order to ensure preservation of the crops harvested.
Milkiland’s agicompanies maintained a positive pace in the in-house milk production. The gross output of this product in the first six months of 2011 more than doubled year-on-year to 4.2 thousand tons.

Comment of the Director of Agricultural Department of Milkiland Bogdan Cheremkha: “We are satisfied with the results of early grains harvesting in 2011. Our agricompanies did a good job harvesting more than enough cattle feed (130-150% of our needs), thus supporting our efforts to further increase in-house milk production”. 

Comment of the Chairman of the Board of Directors of Milkiland N.V. Anatoliy Yurkevich: “Vertical integration is one of the important strategic priorities for Milkiland, being important growth and profitability driver. We are actively investing in our Agricultural Segment, and we are happy to see first results of our efforts.  While Milkiland’s agricultural business did not yet gain significant share in the company’s operations, we plan that in the nearest future it will contribute substantially to additional revenue sources of the Group.”