ED&F Man Joint Venture Agreement
Continental Farmers Group PLC (AIM: CFGP, ESM: CT3, "CFG"), the Ukrainian and Polish agricultural crop producer, is delighted to announce that it has entered into a Joint Venture Agreement with ED&F Man Holdings Limited ("ED&F Man"), the vertically integrated commodity service provider, for the long-term production and supply of sugar beet to ED&F Man's sugar refinery in the Mykolaiv region of Ukraine.
This agreement has been entered into subject to receipt of Ukrainian anti-monopoly approvals.
Under the agreement, CFG are responsible for all production, agronomy and harvesting inputs of beet and all other crops on the jointly held land, and it is anticipated that this operation will reach a significant number of hectares of sugar beet under harvest by 2014. All sugar beet output from the joint venture's farming operations will be sold to ED&F Man under a long term beet supply agreement.
For further information:
Continental Farmers Group Plc
Mark Laird, Chief Executive
Alastair Stewart, Chief Financial Officer +44 (0) 7917 435 224
Murray Consultants
Joe Murray / Joe Heron, Tel: +353 (1) 4980300
Davy
John Frain / Anthony Farrell +353 (0) 1 679 6363
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