DGAP-News: Acazis AG: Acazis AG subsidiary, Acazis Agro Industry Plc Ethiopia, signs contract to start edible oil production in Ethiopia
(firmenpresse) - DGAP-News: Acazis AG / Key word(s): Miscellaneous
Acazis AG: Acazis AG subsidiary, Acazis Agro Industry Plc Ethiopia,
signs contract to start edible oil production in Ethiopia
03.12.2012 / 09:00
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PRESS RELEASE
- Acazis AG subsidiary, Acazis Agro Industry Plc Ethiopia, signs contract
to start edible oil production in Ethiopia
- Production of edible oil starts immediately
- First operating income already in December of this year
Rosenheim, 3rd December 2012, Acazis Agro Industry Plc Ethiopia, a one
hundred percent owned subsidiary of Acazis AG, Rosenheim signed a contract
with the Ethiopian company K&S Plc, Addis Ababa, to operate the Acazis Agro
Industy Plc Ethiopia owned oil factory on the 30th of November 2012 in
Addis Ababa.
The contract enables K&S Plc, to run the Acazis oil factory in Fechatu
(Ethiopia) for and on behalf of Acazis Agro Industry Plc.
The two parties will divide the net profits resulting from the production
of the oil mill equally.
K&S will carry all operating costs relating to the edible-oil factory.
Acazis Agro Industry Plc will remain the owner of the factory.
The contract will be valid for three years (01.12.2012-31.11.2015) to start
with and can be extended up to 5 years and beyond at any time if both
parties agree.
The production will start immediately with a capacity utilization of 25%
and will be extended gradually towards 100% in the course of 2013.
With a 25% capacity utilization Acazis Agro Industry Plc receives,
according to the contract, a minimum monthly payment of US$ 10,000.-. Up to
US$ 100,000,- are possible in this start-up phase. With a capacity
utilization of 100% the net contributions are expected to develop
accordingly.
Further joined cooperation's with K&S are being considered, such as the
delivery of groundnuts from the Acazis Agro Industry Ethiopia operated
fields. Also an additional capacity increase beyond the current 120 tons
per day maximum pressing capacity of the oil factory is possible.
The management of K&S Plc has already operated several oil factories in the
past throughout Asia and Africa. At first test runs excellent results with
up to 50% oil production per ton of groundnuts have been achieved recently.
Patrick Bigger, CEO of Acazis AG appreciates the signing of the contract
with K&S in Addis Ababa: ,We are happy to have identified with K&S Plc a
company which is capable of operating our oil factory and are proven
experts on the field of edible oil production.
The fact that K&S have a long track record for running and operating
oil-factories in Asia and Africa will enable Acazis to concentrate more on
the farming activities in Ethiopia. The cash flow expected from the
edible-oil production should not be just sufficient to cover the operating
costs of Acazis Agro Industry Ethiopia but also to increase the farming
activities.'
About the company
Acazis AG (Acazis) based in Rosenheim near Munich, Germany, cultivates
castor plants, groundnuts and other crops in Ethiopia. It also owns an
edible oil factory in south-west Ethiopia where edible oil and animal cake
is produced. Acazis AG is listed on the German stock exchange and
registered in Germany.
Contact:
Andreas Burger
Acazis AG, Landsberger Str. 18, D-82205 Gilching
Telefon: +498105 778 223 0, Telefax: +49 8105 778 223 9
info(at)acazis.com
End of Corporate News
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