Angstrem linking up with AF-Group

According to Kommersant (13 February 2013), leading manufacturer of prepackaged grain Angstrem and  agricultural holding AF-Group, which focuses on rice, have announced plans to merger their businesses in the new company AFG National, with the value of the merged assets estimated at over RUB 8 billion.

The partners may also acquire production facilities from Razgulyai and Mistral, with the goal of transforming AFG National into a major rice supplier, accounting for 25 per cent of the market.

According to analysts, it remains unclear how powerful the holding will be, in view of the reduction in rice import duties following Russia’s accessing to the WTO.

 

 

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