The project will encompass all key areas of corporate activity, including finance, production, purchasing, logistics and distribution at all of Wimm-Bill-Dann’s enterprises. The optimization of these processes will create a reliable foundation for making quick and effective management decisions and ensure they are seen through to completion. In addition, the new ERP system will facilitate the company’s financial reporting to both Russian and international accounting standardsmore timely.
“Over last 15 years the steady expansion of production facilities and trading branches allowed Wimm-Bill-Dann to become the leading food company in Russia. The further development of the company will require not just growth in its sheer scale but also the more efficient use of resources and an increase in the efficiency of business processes,” noted Tony Maher, the CEO of Wimm-Bill-Dann.
Leading international consulting companies are participating in the project. Deloitte is advising on the development of the business model, with BearingPoint engaged in the implementation of the information system. The vendor of the ERP solution is providing Oracle E-Business Suite software and technical support. The primary stage of the installation of the ERP system is due to be completed by the end of 2009.
For additional information, please contact:
Anton SaraikinPress Secretary+7 (495) 733-9734SaraikinAS@wbd.ru
Marina KaganHead of Public Affairs+7 (495) 105-5805Kagan@wbd.ru
Wimm-Bill-Dann Foods OJSC was founded in 1992 and is the largest manufacturer of dairy products and a leading producer of juices and beverages in Russia and the CIS. The company produces dairy products (main brands include: Domik v Derevne, Neo, 2Bio, 33 Korovy, Chudo and more), juices (J7, Lubimy Sad, 100% Gold), Essentuki mineral water and Agusha baby food. The company has 37 manufacturing facilities in Russia, Ukraine, Kyrgyzstan, Uzbekistan and Georgia with over 21,000 employees. Wimm-Bill-Dann became the first Russian dairy producer to receive approval from the European Commission to export its products into the European Union.
In 2007 Standard & Poor's Governance Services confirmed WBD's Corporate Governance Score 7+ (7.7 accordingly on the Russian national scale), which makes the Company's score the highest rating in Russia. That result reflects the effective work of the Board of Directors and, in particular, the real influence of independent directors in the decision-making process and the adherence of the controlling shareholders to the highest standards of corporate governance.
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Some of the information contained in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Wimm-Bill-Dann Foods OJSC, 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 Foods OJSC files from time to time with the U.S. Securities and Exchange Commission, specifically, the Company's most recent Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" in our Form 20-F, 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, and risks associated with our competitive environment, acquisition strategy, ability to develop new products or maintain market share, brand and company image, operating in Russia, volatility of stock price, financial risk management, and future growth.