OREANDA-NEWS. On 17 July 2009 was announced, that According to the company RAS-based statements, in Q1 2009 OJSC PAVA increased its cash resources by 74.6% from the previous period. The fact that PAVA experienced positive changes in cash appears an outstanding achievement against global financial instability, and bolsters the extensive investment programme.

The company’s cash increased through accumulating returns in order to prepare for bond repurchase which took place on May 6. While many companies of the agricultural and food sectors have defaulted on payments to their bondholders, PAVA was among the few to keep afloat. As of today, it has successfully fulfilled the obligations on 99% of the RUR1 bln. bond loan; the market still holds about RUR4.5 mln., which is planned to be repurchased in August.

Currently the grain processor is laying foundation for future strategic partnerships with international investors, and the improved liquidity is seen as one of the key reliability factors. PAVA sees new opportunities for lucrative investment - in the first place it is further development of RAD’s agricultural operations, land bank increase and upgrade of machinery fleet; besides it is implementing the advanced wheat processing project.