(1888PressRelease)
October 13, 2009 - Last month, one of major Russian grain processors PAVA celebrated 10 years of successful operations in the flour and feed industries. The company said it was pleased with the achievements, particularly in export development and product innovation areas, and reiterated its strategic decision to go vertical.
As part of an anti-crisis campaign, OJSC PAVA introduced a change in the company’s structure, re-organizing milling plants into branches. The measure has increased independence of financial performance of the units, and is anticipated to facilitate growth of sales and revenue.
The company summarized results of enhanced co-operation with baking plants on flour quality control, and setting up a new department in regional sales. PAVA has sustained the trend of the summer period when monthly shipments went up by 2,500 MT and the client base grew by 50%.
RAD, agricultural subsidiary of PAVA, conducted sowings of winter crops and almost completed spring wheat harvesting. As shown by first results, the company significantly expanded its farming operations this year. Moreover, elevators of PAVA mills and grain-receiving enterprises were accredited by state commission for storage of over 350,000 MT of intervention grain. This stands for an 89% increase from the prior year, and recognizes the company’s strong market standing, industry experience and reliability.
In end-month, PAVA was preparing for investor road show in the Gulf region which started in October. Russian agro-processing company has said it plans to place a blocking stake in PAVA’s equity, or shares of its daughter subsidiaries. The additional funds will support the company’s transition to a vertically integrated agroindustrial holding.
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