Panevezys, Lithuania, 2015-07-31 08:00 CEST (GLOBE NEWSWIRE) --
Swedbank has granted more than 11 million euros in loans to poultry farmers and producers – leading Latvian poultry producer AS Putnu Fabrika Ķekava has been assigned 9.48 million euros, whereas the associated company SIA Lielzeltiņi - 1.91 million euros. The loan will be used to carry out renovations of bird enclosures and infrastructure, modernize the meat processing plant and purchase the new equipment.
AS Putnu fabrika Ķekava and SIA Lielzeltiņi are the only poultry processing companies in Latvia that produce poultry solely from chickens grown in their own factories. Priorities for investments are modernization of production, optimization of business processes and development of new products in order to boost the competitive capacity of the companies on both local and export markets. The investment program will be implemented during the next 3 years.
“We’re pleased to do business with such a significant Latvian food industry player and to support the company in its development, which will benefit both the company itself and the national economy,” - says Reinis Rubenis, Swedbank Board Member and Head of Corporate Customer Division.
“The investments will help us increase production volumes, raise the quality of our produce and its added value, promote the efficient and environmentally friendly production process, as well as increase the production portfolio", - says Andris Vilcmeiers, chairman of the board of AS Putnu fabrika Ķekava and SIA Lielzeltiņi.
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.
About Swedbank
Swedbank Group has a leading position in its home markets of Sweden, Estonia, Latvia and Lithuania. We provide households and businesses with everything ranging from basic banking transaction services to the most advanced advisory services. Swedbank Latvia boasts an extensive infrastructure comprising 47 branches, 402 cash-out and cash-in ATMs and highly acclaimed digital solutions comprising telephone banking, internet banking, and mobile banking.
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
Kristine Jakubovska,
Swedbank Latvia Head of Corporate Communication area,
mob. +371 29128208,
e-mail kristine.jakubovska@swedbank.lv