OREANDA-NEWS. September 14, 2009. The new sunflower crushing plant of Myronivsky Hliboproduct < MHPC LI BUY > starts its operation. The plant has the capacity of 620 tonnes of sunflower seeds per day and produces 5,8 kt of sunflower oil per month. Sunflower oil produced is expected to be a raw material for protein production of MHP as well as to be exported by the producer.

Millennium Capital sees the news to be positive for MHP, since the additional sunflower oil will be directed on the operation of the second phase of Myronivka poultry plant, thus decreasing the company costs. Additionally, the export proceeds will allow the company to cover its foreign debt expenditures thus avoiding the losses from hryvnia devaluation. This confirms our BUY recommendation for MHP shares.

Millennium Capital is an integrated financial services provider. Established in 2000 by a group of professionals with solid background in securities and corporate finance, Millennium Capital is now one of tickets selling for its flights due to high arrearage to the creditors of the company.