Kernel sells two oilseed crushing plants in Russia for 800 mln rubles

14:30, 18.04.2016 1 min read

Kernel, a large Ukrainian agricultural group, has sold two oilseed crushing plants in Russia for 800 million Russian rubles (around $12 million at the exchange rate of Central bank of Russia as of April 15, 2016).

The company said on the Warsaw Stock Exchange (WSE), the plants have a total crushing capacity of 200,000 tonnes of sunflower seed per year.

The plants are located in south of Russia.

According to a financial report of the company for 2015, the company owned Ust-Labinsk Florentina oilseed crushing plant and Stavropol Oil.

Kernel acquired these assets in 2011 from Russian Oils. The cost of the deal was assessed at $60 million.

Kernel is a vertically integrated company which has been operating in the Ukrainian agribusiness sector since 1994. The group produces sugar and sunflower oil, distributes bottled oil under the brand names Schedry Dar, Stozhar and Chumak Zolota, exports oil and grain, and provides elevator storage services for grain and oilseeds.