Panevezys, Lithuania, 2015-05-13 10:17 CEST (GLOBE NEWSWIRE) -- AB Linas Agro Group began reforms in Latvia operating poultry farms in order to increase the competitiveness of enterprises.
It is planned to upgrade production lines to produce more and a wider variety of poultry products. This year, the Group will invest up to 8 million euros into new technologies, and it would more than double the performance of the processing line. Another important direction of the reforms – merge of sales departments of the companies.
"Just finished the negotiations with equipment manufacturers, also we are strengthening the sales team. Since the two poultry farms are no longer competitors, we merge the sales departments and eliminate the duplicate functions of departments,"- says Andrius Pranckevicius, Deputy Managing Director of AB Linas Agro Group.
Last year was the best in the history for the Latvian poultry companies, owned by AB Linas Agro Group - AS Putnu Fabrika Kekava and SIA Lielzeltini (managing also SIA Cerova and SIA Broileks). The total consolidated sales of poultry group over 2014 calendar year, as per unaudited data, amounted to 62 million Eur, EBITDA was 8 million Eur.
About AB Linas Agro Group
AB Linas Agro Group is an agribusiness parent company engaged in the production and trade of grains, oilseeds, feedstuff, poultry and poultry products, also agricultural inputs. It controls companies in Lithuania, Latvia, Estonia and Denmark. The group consists of international agricultural production trading company in Lithuania AB Linas Agro, grain storage company UAB Linas Agro Grūdų Centras KŪB (that manage 8 operating and two being built grain elevators), trading companies in Latvia and Denmark, group of agricultural land management companies ŽŪB Landvesta, holding of agricultural companies UAB Linas Agro Konsultacijos, agricultural inputs supplier UAB Dotnuvos Projektai, logistic company UAB Jungtinė Ekspedicija, Latvian poultry companies AS Putnu Fabrika Kekava and SIA Lielzeltini, also other companies. The financial year of the Group begins on 1 July.
From 17 February 2010 AB Linas Agro Group is included in the main list of companies of Nasdaq Vilnius stock exchange.
For more information please contact: Tomas Tumėnas, Finance director of AB Linas Agro Group, mob. +370 682 36 616, e-mail t.tumenas@linasagro.lt