Ukrproduct Group Ltd
05 July 2007
UKRPRODUCT GROUP LTD
(the "Group")
NESTLE AUDIT COMPLETED; KRAFT FOODS AUDIT UNDER WAY
The Group announces that, following an audit undertaken over the last two
months, its flagship Starkon plant has been certified as a supplier of skimmed
milk powder ("SMP") to Nestle Ukraine ("Nestle"). The audit confirmed that the
production process and quality of SMP produced at Starkon's new SMP facility
meet Nestle's standards. The first contract for delivery has been for 100 tonnes
of SMP to Nestle of which 30 tonnes has already been supplied. Due to the higher
quality requirements, the contract stipulates a price premium over typical
market prices for similar SMP contracts.
The quality audit by Kraft Foods Ukraine ("Kraft Foods"), similar in nature to
that conducted by Nestle, is under way with completion expected by the end of
August. It is envisaged that both Nestle and Kraft Foods could become long-term
customers with combined SMP sales volumes of up to 10% of the entire SMP
production by the Group.
For further information:
Ukrproduct Group Limited +38 044 502 8014
Iryna Yevets, CEO,
Dmitry Dragun, CFO,
WH Ireland Limited +44 161 832 2174
David Youngman
This information is provided by RNS
The company news service from the London Stock Exchange