EANS-Adhoc: AGRANA Beteiligungs-AG
AGRANA and YNA to divide joint ventures for
apple juice concentrate in China
-------------------------------------------------------------------------------- ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
Company Information
01.02.2011
The sugar, starch and fruit company AGRANA has announced plans to divide its existing joint ventures with the Chinese apple juice concentrate producer Yantai North Andre Juice Co. Ltd. (Yantai). Through two 50:50 joint ventures, these two companies currently operate an apple juice concentrate plant in Xianyang, Shaanxi province, and another production site in Yongji, Shanxi province.
It is the declared intention of AGRANA to assume full ownership of the plant in Xianyang and to sell its stake in the Yongji production facilities to Yantai in return.
AGRANA and Yantai have been turning approximately 250,000 tonnes of apples into apple juice concentrate every year at both sites, employing around 250 workers. In future, AGRANA plans to operate the Xianyang plant with around 160 employees and with the capacity to process up to 180,000 tonnes.
This press release is available in German and English at www.agrana.com.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Investor Realtions:
Mag. (FH) Hannes Haider
Tel.: 01-21137-12905
hannes.haider@agrana.com
Public Relations:
Mag. Ulrike Middelhoff
Tel.: 01-21137-12084
ulrike.middelhoff@agrana.com
Branche: Food
ISIN: AT0000603709
WKN: 779535
Index: WBI, ATX Prime
Börsen: Berlin / Präsenzhandel
Frankfurt / Präsenzhandel
Stuttgart / Präsenzhandel
Wien / official market
Original content of: AGRANA Beteiligungs-AG, transmitted by news aktuell