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Bread of Ukraine credit indebtedness totals UAH670 mn
23.06.2006 09:40 "Agro Perspectiva" (Kyiv) —
State-owned Joint Stock Company Bread of Ukraine credit indebtedness is UAH670 mn (as of mid Jun, 2006), reported Bread of Ukraine Chairman Serghiy Khoroshailov on press-conference. As to Khoroshailov, within 2005 second half year/2006 first quarter Company has already liquidated UAH380 mn debts. In part., Bread of Ukraine has paid off UAH15.8 mn to Company Spivdruzhnist as well as repaid Nordbank UAH122.9 mn/other banks UAH54.6 mn credit indebtednesses. Besides, Company has as well liquidated budgetary financing UAH117.5 mn indebtedness. As of Apr 1, 2006, Bread of Ukraine debts to State-owned companies were UAH428.7 mn (64% total Company credit indebtedness). As earlier reported, Bread of Ukraine had ended 2006 first quarter at UAH5,000 net profit. Company Bread of Ukraine was founded in 1996; presently Company incorporates 81 grain acceptance/storage system companies. Bread of Ukraine owns 2 port elevators (Odesskiy and Myckolayivskiy). Odesskiy port elevator grain storage capacity totals 100,000 MT (annual transshipment capacity 1.5 mn MT); Myckolayivskiy port elevator grain storage capacity totals 69,000 MT (annual transshipment 600,000 MT). Since end 1998 Company suffered financial problems due to having had got in big debts with petrol/gas companies while acting as agrarians fuel/fertilizers shipments intermediary. As to various estimations, Bread of Ukraine debts are ranging within UAH200 mn-UAH1.4 milliard. Company grain annual capacities are calculated upon 7 mn MT storage/4 mn MT processing.
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