Acazis AG puts its Ethiopian oil mill back into operation
(Thomson Reuters ONE) -
Acazis AG /
Acazis AG puts its Ethiopian oil mill back into operation
Processed and transmitted by Thomson Reuters.
The issuer is solely responsible for the content of this announcement.
Gilching, Munich, 23rd March 2011. The Executive Board of ACAZIS AG has
announced that the company's own oil mill, the largest installation in the Horn
of Africa, is currently being serviced and cleaned in order to resume
operation.
The oil mill, which was originally built for the pressing of castor oil, will
start running again for the production of edible oils. The first oil to be
produced will be peanut which will be sold on the domestic market. Acazis AG's
primary business, the cultivation of castor in Ethiopia, will remain unaffected.
The production of edible oils will be an important milestone for Acazis AG and
will consequently represent an important step in the growth of the company.
The decision to reinstate the oil mill was prompted by a resolution passed by
the Ethiopian government to restrict and/or prohibit the import of various goods
including edible oils due to the prevailing levels of inflation in the country.
As Acazis AG's oil mill is located in Ethiopia's largest peanut-cultivation
area, the company's Board of Directors together with the Management of Acazis
Ethiopia Plc, the company's Ethiopian subsidiary, have decided to put the oil-
mill back into operation for the pressing of peanuts.
Member of the Board of Directors, Patrick Bigger, states, "As our oil mill has
been out of service, it will take approximately two to three months for the
facility to start running efficiently again. This means that we can begin
pressing peanuts and producing oil by the second half of 2011. We will be
signing contracts with local peanut farmers to supply up to 50 tons of peanuts
per day and we will be in a position to produce oil approximately 20 days per
month. This will signify an output of approximately 220 tons of peanut oil
monthly meaning a net financial monthly return for the company of
?140.000,00. The entire peanut waste, known as 'cake', can be further utilised
as fodder for livestock which will be resold by Acazis AG. We are delighted to
be able to reduce the national deficit in edible oils with this project".
About the company
Acazis AG (Acazis) based in Gilching near Munich, operates in the cultivation
and use of castor plants, the production of edible oils, the provision of any
related services and the acquisition and management of companies and
shareholding in related companies as well as the as the carrying out of
Executive Board functions.
Contact:
Andreas Burger
Acazis AG, Landsberger Str. 18, D-82205 Gilching
Telephone: +49 8105 778 223 0, Telefax: +49 8105 778 223 9
info(at)acazis.com
--- End of Message ---
Acazis AG
Landsberger Str. 18 Gilching Germany
WKN: A1C9YF;ISIN: DE000A1C9YF1;
Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Acazis AG via Thomson Reuters ONE
[HUG#1499254]
Unternehmensinformation / Kurzprofil:
Datum: 23.03.2011 - 08:45 Uhr
Sprache: Deutsch
News-ID 52696
Anzahl Zeichen: 3969
contact information:
Town:
Gilching
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 242 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Acazis AG puts its Ethiopian oil mill back into operation"
steht unter der journalistisch-redaktionellen Verantwortung von
Acazis AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
