OREANDA-NEWS. June 15, 2010. Avangard (LSE: AVGR LN) plans to sell 60% of its exported shell eggs to Middle East countries: Iran, Iraq, Jordan, Lebanon and UAE by early 2012, Oleh Bakhmatyuk, company’s Chairman of the Board and majority owner reported yesterday. Share of foreign sales to the EU and CIS countries should comprise 10-15%, while total exports should amount to 2.5 bln shell eggs p.a. by that time.

Concorde Capital: with the domestic eggs market oversaturated, growing exports look to us as a viable strategy. At the same time, exports of 2.5 bln shell eggs or 46% of Avangard’s planned capacity (should Kherson and Khmelnitsk facilities become operable by 2012) implies a 6.3x increase in foreign shell eggs sales within the next 18 months. We see Mr. Bakhmatyuk’s export plans as doubtful within such a short timeframe.