December 11 2007, 09:05

"Agroekoproduct" company (ТМ "Veres") bought Cherkassy cannery

Vadim Novinskiy, the partner of Rinat Akhmetov in "Metinvest" holding, consolidates his positions on the market of canned products. We came to know in December, that Closed JSC "Agroekoproduct" (producer of canned vegetables and sauces), subordinated to Mr. Novinskiy, will get a rather good asset - the property of state Cherkassy cannery.

"Veres" group of companies , controlled by Russian businessman V. Novinskiy, continues gathering assets in the profile industry. Past week the representative of State Property Foundation informed "Delovaya Stolitsa" about the finished procedure of bankruptcy of the state enterprise "Cherkassy cannery", managed by the Ministry of Agrarian Policy. According to the data of privatization body, the creditor committee of the group of companies signed an amicable agreement with the debtor according to which Closed JSC "Agroekoproduct" (Kanev, Cherkasskaya region, the member of "Veres" group) is responsible for settlement of debts of the cannery worth to the total sum of UAH 7 mln. The most part of these funds will be paid to tax inspection, Pension foundation, Cherkassy employment center, and also energy supplier, "CherkassyOblEnergo" company, which initiated the bankruptcy of the cannery in 2006. In exchange for|the generosity, "Agroecoproduct" will obtain the property complex of the cannery estimated worth to the mentioned sum, according to the approval of Economic Court of Cherkassy region. "The Ministry of Agrarian Policy adjusted the terms of this amicable agreement, and we refrained", the representative of State Property Foundation added. As a result, the state will own just a signboard and a few items of property.

Cherkassy cannery positively evaluates the transfer of state assets to the private company. The representatives observed that this step let them reanimate the production on the enterprise which is actually stopped now (in the times of former USSR the enterprise produced 55 assortment items of canned vegetables and meat; the production volumes exceeded 80 mln. of conditional jars per year. According to the representative of the enterprise, "Veres" group of companies purchased the controlling interest of Opened JSC "Konservagroinvest" in 2004, created on the basis of one workshop of Cherkassy cannery. That's why the company's interest to the plant was not accidental. "They need to extend the production capacities, that's why they became our investors", he added.

"Agroeoproduct" decided not to comment their plans concerning the assets of state enterprise - the representatives only informed that the company intends to build up the sales of canned products, so that the production growth is inevitable, also by means of new capacities. However, to implement these plans, the structure of V. Novinskiy will primarily have to reconstruct the premises and equipment which are to become the company's property soon. We can't doubt the ability of Novinskiy's company to finance these tasks -"Agroekoproduct" generated UAH 287.5 mln. of profits in 2006. Talking about Cherkassy cannery, the perspectives of this enterprise do not seem impressive - the enterprise lost the most valuable assets, so there is a risk to be involved to the procedure of bankruptcy again soon. The result of this process will be inevitable liquidation.