Russia: large feed mill goes bankrupt after high debts
One of the largest producers of feed in the region, Novgorod property complex which produces poultry feed, has gone bankrupt due to high debts, reported the regional authorities.
The enterprises will now be sold at an open auction with a starting price of RUB 106 million (US$ 3 million). The regional authorities doesn't exclude that the enterprise may interest foreign investors.
The complex occupies an area of 26.2 hectares. The dozen buildings stopped all production of poultry feed in the summer. The owners of the company struggled to get back to business.
During the year the plant produced about 133,000 tonnes of feed for poultry farms of Novgorod and Pskov market, according to official statistic data.
At the same time experts say that the feed mill is an attractive asset and after some investment it may have great potential. "The enterprise has its own customer base and in future it can potentially increase its capacity. It may need some modern equipment, but this will not require large investment" according to the representatives of the enterprise.
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