• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Wimm-Bill-Dann Foods OJSC Acquires 100% Stake in 'Experimental Baby Food Plant' LLC in the Kursk Region

Posted on: Tuesday, 19 July 2005, 03:01 CDT

Wimm-Bill-Dann Foods OJSC (NYSE:WBD) today announced an acquisition of a 100% stake in the "Experimental Baby Food Plant" LLC in the Kursk Region, which increased the total number of manufacturing facilities owned by Wimm-Bill-Dann to 27.

The acquisition was made as part of Wimm-Bill-Dann OJSC's strategy in baby food development.

The Plant, which was founded in 1960, was fully modernized in 2001. The plant's current facilities comprise imported equipment for raw materials processing and filling and packaging lines.

The raw materials are sourced from the plant's own orchards, the total area of which is 440.35 hectares.

For further enquiries contact:

Marina Kagan Wimm-Bill-Dann Foods OJSC Yauzsky Boulevard, 16, Moscow 109028 Russia Phone: +7 095 733 9726/9727 Mobile: + 7 095 762 2387 Fax: +7 095 733 9725 e-mail: kagan@wbd.ru

Some of the information contained in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Wimm-Bill-Dann Foods OJSC, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to conform them to actual results. We refer you to the documents Wimm-Bill-Dann Foods OJSC files from time to time with the U.S. Securities and Exchange Commission, specifically, the Company's most recent Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, potential fluctuations in quarterly results, and risks associated with our competitive environment, acquisition strategy, ability to develop new products or maintain market share, brand and company image, operating in Russia, volatility of stock price, financial risk management, and future growth.

NOTES TO EDITORS

Wimm-Bill-Dann Foods OJSC is a leading manufacturer of dairy and juice products in Russia. The company was founded in 1992.

The Company currently owns 27 manufacturing facilities in 22 locations in Russia and the Commonwealth of Independent States (CIS), as well as trade affiliates in 26 cities in Russia and the CIS.

Wimm-Bill-Dann has a diversified branded portfolio with over 1,100 types of dairy products and over 150 types of juice, nectars and still drinks. The company currently employs over 17,000 people.

Wimm-Bill-Dann was awarded Grand Prix for Best Overall Investor Relations in 2004 - Small & Mid cap companies and Best Investor Relations Officer in 2004- Small & Mid cap companies at the Second Annual IR Magazine Russia Awards held in December 2004 and organized by IR Magazine and the Association of Investor Relations Professionals. Wimm-Bill-Dann previously received the Grand Prix for Best Overall Investor Relations in 2003- Small & Mid cap - at the first annual IR Russia Awards Ceremony held in Moscow last year.

Source: Business Wire

More News in this Category