REG - Ukrproduct Group Ltd - Update due to Russian Invasion

UkrproductAnnouncement

01/03/2022 12:00

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RNS Number : 2096D  Ukrproduct Group Ltd  01 March 2022

1 March 2022

 

UKRPRODUCT GROUP LTD
("Ukrproduct" or the "Company")

 

Update due to Russian Invasion

 

Ukrproduct Group Ltd (AIM: UKR), one of the leading Ukrainian producers and
distributors of branded dairy foods and beverages (kvass), advises that in
light of nearby Russian military activity in Ukraine, it has temporarily
suspended operations at its Zhytomyr plant.  The Company produces processed
cheese and Kvass at this site.  Operations continue at its Starokostiantyniv
and Letychiv plants, although they have of course been affected by the
invasion of the country.  The Starokostiantyniv plant, where Ukrproduct
produces the bulk of its products and in particular packaged butter, spreads,
hard cheese and skimmed milk powder, is currently operating at approximately
half of its normal volumes for this time of year.  Deliveries have been
affected due to military activity on the roads and nightly curfews.  As will
be appreciated, the financial impact of the invasion will be negative on the
Company but it is too early at this stage to estimate the extent of that
impact.

The Company is taking all measures available to protect and safeguard its
personnel and business. The safety and wellbeing of its personnel is paramount
and the Company will continue to take all possible steps to ensure their
safety.

 

Further announcements will be provided as appropriate.

 

For further information, please contact:

 

 Ukrproduct Group Ltd
 Jack Rowell, Non-Executive Chairman          Tel: +380 44 232 9602
 Alexander Slipchuk, Chief Executive Officer  www.ukrproduct.com (http://www.ukrproduct.com)

 Strand Hanson Limited
 Nominated Adviser and Broker                 Tel: +44 20 7409 3494

 Rory Murphy, James Dance, Rob Patrick        www.strandhanson.co.uk

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014, which forms part of United Kingdom domestic law by
virtue of the European Union (Withdrawal) Act 2018, as amended.

 

 

 

 

 

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