Duda buys Ukrainian again

Meat producer PKM Duda made another step in its Ukrainian expansion when it acquired agro-industrial company Rosan-Agro group for $16 (zł.44.2) million. "The acquisition of Rosan-Agro brings us closer to reaching our strategic goal," PKM Duda's president, Maciej Duda said.

As the president explained, the company's goal in Ukraine is to build a group present in all segments of the production chain, and which would have a revenue of zł.700-800 million annually.

"We hope to achieve this in three to four years' time," Duda said, adding that currently, PKM Duda's revenue in Ukraine is around zł.70 million. Apart from Rosan-Agro, PKM Duda owns two companies in Ukraine - a pig farm called Swinokompleks Zoria and a slaughter firm called Borys.

After making the acquisition, PKM Duda still has around zł.55 million (out of an initial zł.100 million) to invest in Ukraine. As president Duda disclosed earlier this year, the company will invest in modernizing one of Rosan-Agro's three farms.

"We also want to acquire two new farms," Duda said, adding that in 2007-2008 around zł.50 million should be invested in the Ukrainian company. But that's not the end of plans with regards to Rosan-Agro. "We would like the company to debut on the WSE in 2008 or 2009," Duda said. Rosan-Agro operates in western and parts of central Ukraine and is number five in the country in fresh-meat production. In western Ukraine it holds a quarter of the ham market, in the medium and premium segments. Last year its revenue was zł.50 million.