Avena Nordic Grain invests in development of grain terminal at port of Inkoo
Apetit Plc, stock exchange release, 13 January 2015 at 9:30 a.m.
Avena Nordic Grain Oy, which is part of the Apetit Group, will invest EUR 1.8 million in the development of grain reception, storage and export facilities at the Inkoo deepwater port. The investment consists of the construction of three bulk dry stores with a combined total area of 6,120 m2. The dry stores will allow the receipt and storage of grain and its loading into even the largest Panamax-class ships.
The investment project will improve the efficiency and increase the volume of Finnish grain exports from the southern parts of the country to international grain markets. With this investment, Avena Nordic Grain is aiming to achieve a significant increase in its export volumes. At the initial stage the targeted annual volume at the Inkoo port is approximately 50,000 tonnes of grain, of which about 80% will be new export volume.
The investment in the deepwater port at the centrally located Inkoo will improve the efficiency of grain exporting especially from southern Finland, as it will allow direct grain deliveries from farm to port, reducing the need for intermediate storage. Finnish wheat export in particular, but also barley export, has been increasing over the past decade, and the southernmost part of the country has not previously had any grain exporting ports or grain processing industry.
Avena Nordic Grain has reached agreement with Inkoo Shipping Oy Ab concerning the acquisition of support services required for grain handling at the port. Avena Nordic Grain will construct a grain laboratory at the port, where Nylands Svenska Lantbrukssällskap r.f. will provide grain analysis services.
The construction work will begin immediately. The new bulk dry stores are scheduled for completion in late summer 2015, allowing them to take grain from the autumn threshing.
Apetit Plc
Veijo Meriläinen
CEO
Further information:
Veijo Meriläinen, CEO, Apetit Plc, tel. +358 50 521 4061
Kaija Viljanen, Managing Director, Avena Nordic Grain Oy, tel. +358 40 501 2814
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www.apetitgroup.fi
Avena Nordic Grain Oy is Finland’s leading trader in grains, oilseeds and animal feedstuffs, and is a manufacturer and supplier of vegetable oils and expeller. Avena’s main market is the European Union, but it also trades in many other markets. Avena is especially active in its home market, Finland. The company’s principal location is Espoo, but it also operates in other parts of Finland: Vaasa, Pori, Salo, Kirkkonummi, Loimaa, Hämeenlinna, Kouvola and Porvoo. Its oil milling plant, Mildola Oy, is located in Kirkkonummi. Avena Nordic Grain’s net sales in 2013 totalled EUR 209 million and the company employed 73 people. Avena is part of the Finnish food company Apetit Plc, which is listed on NASDAQ OMX Helsinki Ltd. In 2013, Apetit Plc had net sales of EUR 387.3 million and employed 782 people. For more information, go to www.avena.fi and www.apetitgroup.fi.
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