Consumer goods

According to an additional bonds issue prospect, Kovelmoloko [KMOL UZ, BUY] is going to further expand its market share on the Ukrainian dairy market to 5%. Moreover, the company plans to hold 4.8% of the Ukrainian production of sour milk “kefir”, 8.3% for sour cream, 5.7% for cheese, 5.4% for soft cheese, and 3.4% for butter.

The Economic Court of the Lviv Region, in reference to information provided by the state enterprise “Information Court Systems” has denied the existence of a declaration of bankruptcy for the Zhidachiv Pulp and Paper Mill [ZCPK, N/R].

On August 12, the Economic Court of the Lviv Region declared the bankruptcy of the Zhidachev Pulp and Paper Mill [ZCPK, N/R], a major producer of newsprint and cardboard, and set out the terms for the liquidation procedure.

Slavutych [SLAV UZ, BUY], which is affiliated with the Carlsberg Group, is opening a representative office in Belarus, a branch office in Moldova, and a daughter enterprise in Russia.

The Malyn Paper Mill (MPM), the only Ukrainian producer of electrical insulating cardboard for power devices, increased its output of paper by 23.9% in January-July YoY, up to 7.52 thsd tons. Also, during the same period the company increased the output of cardboard by 11% YoY, up to 3.45 thsd tons.

Myronivskiy Hliboproduct [MHPC LN, N/R], one of the top Ukrainian agricultural and poultry producer, announced its preliminary results. Meat output increased by 50% YoY to 110 thsd mt backed by increase of output facilities due to launching of new line in October 2007. Sausage output surged 80% YoY to 5.3 thsd mt.

According to a press release by Rosselhoznadzor, seven Ukrainian dairy producers will be allowed to export dairy products to Russia.

Today Slavutych [SLAV UZ, BUY] held a conference, where the IFRS financial results for 1H2008 were released: net revenues increased by 40% to USD 223 mln, EBITDA rose by 60% to USD 22 mln, and net income improved to a positive USD 2 mln ( vs. a negative USD 2 mln in 1H2007).

Prydniprovsk Dairy [KPRD, BUY], a Ukrainian independent dairy producer, has been submitted for listing on the PFTS Ukrainian exchange on August 4, 2008. The company has 7 mln shares outstanding with a par value of USD 0.52.

System Capital Management (SCM) officially announced of selling its share of 94% in Crimea brewery. According to Ukranews, SCM has reached an agreement to sell the Crimea Brewery (total output capacity a 10 mln dal).