(1888PressRelease)
September 12, 2009 - In August 2009, Russian grain processor PAVA paid out the 11th coupon yield and completed bond repurchase on RUR1bln. loan, surviving the tough business environment. The complex of anti-crisis measures and reasonable financial policy earned PAVA the status of the only company in the sector who fulfilled the total volume of investor obligations.
Among highlights of the period was focused efforts on strengthening overseas co-operation. PAVA senior managers visited South Korea, contemplating high potential of the market where demand for quality flour has been growing. The company also announced its plans to set up a branch office in Seoul. Later, during the visit to Tajikistan, PAVA representatives met with the existing and prospective customers, to assess market opportunities of new flour “Zhitnitsa” in the Central Asian state.
Domestically, as 2008/09 marketing year was summarized, sales of consumer-size products increased across regions, with 24% overall growth on the previous period.
PAVA introduced a new production quality control system on the company mills, which included a training programme for the employees. The system of mini-bakeries allows continuous monitoring of finished products characteristics – volume, shape stability and quality of crumb.
Following the adopted regulations, PAVA’s wheat germ oil obtained a new certificate satisfying the requirements regarding content, package and marking. The company maintained co-operation with bakers in studying innovative flour “Zhitnitsa” and the variety of its applications. The product was successfully tested as a base for kvass drink and incorporated in production of oatmeal cookies and gingerbreads, performing as a great taste enhancer.
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