Agriculture, Good for Business, Investments, Latvia, Ukraine

International Internet Magazine. Baltic States news & analytics Thursday, 25.04.2019, 21:24

Ukrainian and Latvian investors order EUR 26 mln worth of equipment for planned egg farm

BC, Riga, 28.01.2019.Print version
Gallusman, a company of the Ukrainian-Latvian group of investors Ovostar Union, which plans to set up an egg farm in Latvia, has ordered EUR 26 mln worth of equipment from manufacturer Big Dutchman, Gallusman CEO Arnis Vinbergs told LETA.

“We have ordered the newest equipment that meets the highest European environmental safety and bird welfare standards. Latvia will have one of the most up-to-date egg farms in Europe. Global demand for cage-free eggs will keep growing, ensuring wide export opportunities for the Latvian-made products,” Veinbergs said, adding that the company plans to export up to 90% of its products.


Ovostar Union has confirmed the plan to develop a new egg farm in Latvia by investing at least EUR 85 mln in the business by 2026 and creating up to 200 new jobs. Construction of the farm is scheduled to being in the second half of 2019, although it is still nor clear where the facility will be built.


Ovostar Union is a group of companies whose main holding company Ovostar Union N.V. is quoted on the Warsaw Stock Exchange since 2011. At present Ovostar Union is represented by two companies in Latvia – Gallusman, which is developing the new egg farm project in Latvia, and Ovostar Europe, the distributor of Ovostar Union products in the European Union.


According to latest information, Gallusman currently considers building the farm either in Tukums or Ogre region.


According to information available at Firmas.lv, The key owner of Gallusman is the Dutch-registered Ovostar Union, the beneficial owners of which are Ukrainian citizens Boris Belikov and Vitaly Versenko who own 89% in the company. The remaining 11% belong to Balticovo head Arnis Veinbergs.

 






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