Following its strategy of regional expansion, Wimm-Bill-Dann acquired a new dairy plant in the city of Pervouralsk in the Sverdlovsk region. Prior to the acquisition the Company did not have its own production in the region.
The plant was put into operation in 1970; its designed capacity is 120 tons per day. Currently the plant processes up to 20 tons of milk per day and specializes in the production of natural dairy and curds products, as well as drinking yogurts under the «Snegirevo» brand. The plant employs 165 people.
The acquisition of Pervouralsk City Dairy Plant allows Wimm-Bill-Dann to explore new dairy markets, expand the geography of sales and optimize logistic expenses, thus eliminating the necessity of additional transportation of the Company’s products across the regions.
Initially the products will be manufactured under the «Snegirevo» brand. The Company envisages launching its own «Domik v derevne» and «Vesely molochnik» brands in the future.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Wimm-Bill-Dann, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to conform them to actual results. We refer you to the documents Wimm-Bill-Dann files from time to time with the U.S. Securities and Exchange Commission, including our Form F-1. These documents contain and identify important factors, including those contained in the section captioned “Risk Factors” in our Form F-1, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, potential fluctuations in quarterly results, our competitive environment, acquisition strategy, risks associated with operating in Russia, volatility of stock price, financial risk management, and future growth subject to risks.