FirstFarms A/S has signed a non-binding LOI (Letter Of Intent) with DCH International A/S. Later on a due diligence will be carried out. It is the intent, that FirstFarms rents 400 hectares from DCH International and furthermore takes over rent contracts of 1,700 hectares, which DCH International operates today.
FirstFarms will take over the task about delivery of slurry from DCH International's pig production, both on the area where FirstFarms takes over the operation and on areas assigned by DCH International.
The operation will be merged with FirstFarms' existing center in East Romania.
FirstFarms expects a negative affect of DKK 0.5-1 million in the accounts in 2015, due to start up costs. Take-over is not done before after harvest 2015.
FirstFarms maintains the expectations about an EBIT-result of DKK 6-11 million in 2015
Billund, 14 April 2015
FirstFarms A/S
For further information:
Please visit our website www.firstfarms.com or contact CEO Anders H. Nørgaard on telephone +45 75 86 87 87.
