31 Jul '08
Nizhny Novgorod’s oil and fat factory NMZK is taking over Urupinsk Solvent Extraction Plant (oil seed processing) and buying a 20-percent stake in Urupinsk Elevator (grain storage) in Volgograd Region, the firm said earlier today.
The deal value is estimated at $55.4m.
Sources at NMZK also notified media that Urupinsk assets would be integrated in the group within two to three months upon obtaining approval from the RF Federal Antimonopoly Service.
Experts appraise the acquired assets as valuable.
Urupinsk Solvent Extraction Plant processes 200,000 tons of oil seeds a year and is unique of its kind in Volgograd Region.
Urupinsk Elevator is one of Russia’s largest with the aggregate grain storage capacity of 180-200,000 tons at a time.