Acazis AG
Acazis AG: Acazis AG subsidiary, Acazis Agro Industry Plc Ethiopia, signs contract to start edible oil production in Ethiopia
Acazis AG / Key word(s): Miscellaneous 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.
The production will start immediately with a capacity utilization of 25% and will be extended gradually towards 100% in the course of 2013. 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.
Contact:
Acazis AG, Landsberger Str. 18, D-82205 Gilching End of Corporate News 03.12.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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