- Vegetable processing capacity of 20,000 tons; warehouse for 10,000 pallets; 47 employees
- Numerous potential synergies within the KTG Group
- Expansion of the food segment to continue
Hamburg, 21 November 2014. The expansion of the food production segment is resulting in more and more potential synergies for
KTG Agrar SE (ISIN: DE000A0DN1J4). "We have agreed much higher delivery volumes with German retailers for the 2014/2015 season and also were quite successful at Sial, the world's largest international food and beverage trade fair. We therefore decided to take advantage of the attractive purchase option for the Manschnow plant, which we have rented for about one year," said Siegfried Hofreiter, CEO of
KTG Agrar SE. "This will allow us to fully leverage the potential of the plant and its highly motivated staff as well as the synergies arising within the KTG Group." The company has bought the deep-freezing plant in Manschnow, Brandenburg, from Pinguin Foods Deutschland GmbH, a subsidiary of the Pinguin Group, Belgium.
The Manschnow plant will become a member of KTG Foods SE, the foods arm of the KTG Group which comprises Frenzel Tiefkühlkost, Bio-Zentrale Naturprodukte and Ölmühle Naturöl Anklam as well as the "Die Landwirte" brand and the fresh produce facility in Linthe. The Manschnow plant currently processes about 20,000 tons of frozen vegetables per year - and rising. The plant consists of three packaging lines, which allow the flexible packaging into bags and cartons, and has a storage capacity of 10,000 pallets. 47 employees are on the site. Based on the current growth plans, additional jobs are likely to be created in the medium term.
The Manschnow plant will lead to numerous potential synergies for the KTG Group - especially in cooperation with Frenzel Tiefkühlkost in Ringleben. As the Manschnow plant focuses on the production of all deep-frozen vegetable products of the Group, capacity will be freed up in Ringleben to meet the growing demand for products such as ready-made potato dishes, potato fritters, pancakes and cabbage rolls.
The takeover will strengthen the KTG Group and allow the very positive development of the food segment to continue in the coming years. Having contributed approx. EUR 56 million to the Group's sales revenues in 2013, the segment is expected to generate as much as EUR 100 million in sales this year and will also make the first contribution to the Group's growing profits. Germany will remain the main market of KTG Foods, although the Sial exhibition in Paris has shown that food made in Germany has considerable potential also internationally. The takeovers and investments made in the context of the "from field to plate" strategy over the past years have laid an excellent foundation on which to exploit this potential.
About KTG Agrar SE
With cultivable land of more than 43,000 hectares,
KTG Agrar SE (ISIN: DE000A0DN1J4) is one of the leading producers of agricultural commodities in Europe. As an integrated supplier, the company produces agricultural commodities and renewable energy and food. The Hamburg-based company's core area of expertise is the organic and traditional cultivation of market products such as cereals, potatoes, soy and rapeseed. For organic market products KTG Agrar is the European market leader. The company mainly produces in Germany but has also operated production in the EU member state of Lithuania since 2005. As a result of the takeover of Frenzel Tiefkühlkost and Biozentrale Naturprodukte, KTG has expanded the value chain by the production of food since 2011. In the year 2013, KTG achieved a total output of EUR 205.3 million and EBIT of EUR 23.9 million. Since November 2007 the company is listed on the Frankfurt Stock Exchange and had 775 employees at year end 2013. Further information can be found at www.ktg-agrar.de.
Contact:
Investor Relations / Press
Fabian Lorenz
IR.on AG
Phone: +49 221 914097 - 6
E-mail: fabian.lorenz@ir-on.com
