Press-release

During 2011 Milkiland concentrated its efforts at acquisition of agricultural subsidiaries in order to strengthen the Group’s raw materials supply chain. As a result, 4 new agricultural companies located in Chernigiv oblast were acquired, the arable land bank of the Group increased by one third to almost 20.9 thousand hectares, the milking cows headcount reached c. 2900.

Based on this background the in‑house raw milk production in 2011 more than doubled in comparison with 2010 to c.10.8 thousand tons.

Comment of the Director of Agricultural Department of Milkiland Bogdan Cheremkha: “We was happy to achieve the positive results in the development of our Agri-segment in 2011. We aim our activities in the next year at increase of arable land bank of the Group and further rise of in-house milk production”. 

Comment of CEO of Milkiland N.V. Fredrick Aherne: “We consider vertical integration as an important growth and profitability driver. We are happy to admit the positive results of the Agricultural Segment of business in the current year and will continue investing in its development in 2012. We believe this Segment will not only contribute to the success of our core diary business, but will also become an additional revenue source of the Group in 2012”.