Feednova, a company, that realizes the first in Ukraine high-protein feed additives and animal fats production plant, located in Busk city (Lviv region), has secured an investment from UMG Investments. The latter has acquired minority stake. Financial details of the deal are not disclosed.
“The last few weeks have posed unprecedented challenges; we are all learning to work in a new reality without reliable economic forecasts. As a local investor, we understand that once a pandemic crisis is over, no rapid economic recovery will be possible without new projects, job creation and business processes support in portfolio companies. We keep implementing all the previously agreed investment projects, and we are pleased that our investment in Feednova will help to create the first independent operator of animal by-products processing in Ukraine. We believe that participation in Feednova project will allow our portfolio company Recycling Solutions to realize its vast experience and best practices in waste management projects to the fullest extent possible”, said Andriy Gorokhov, CEO of UMG Investments.
The Company will become the first independent operator in Ukraine to process raw materials from external suppliers for production of high-protein feed additives and animal fats for farm animals and pets. The production complex shall have four state-of-the-art production lines and five boilers (MAVITEC, the Netherlands) with a capacity of over 220 tons of raw materials and 90 tons of finished products per day. As an export-oriented company, Feednova will become the major budget revenue generating enterprise in the region and create up to 100 jobs.
“We are building a plant capable of changing the ecosystem of the agriculture in general and livestock farming in particular. The Company will stimulate the technological advancement of the industry and introduce the new quality standards. After all, our work is based on modern technologies and has a high level of environmental safety. By our own example, we will prove that it is possible to raise investments, create conditions for further development of the economy in Ukraine. And this is only the first step, as we are going to develop several similar projects in the south and in the center of Ukraine”, points out Igor Liski, Chairman of the Supervisory Board of the Effective Investments Group.
Please be adviced that on February 4, 2020, Effective Investments and Mada Participations B.V., the Netherlands announced the commencement of construction of high-protein feed additives and animal fats production plant Feednova in Busk. The total project investments amount to USD 20 million.