Linas Agro Group
Notification on material event
AB Linas Agro Group took over management of UAB Dotnuvos Projektai
Panevezys, Lithuania, 2012-10-12 08:00 CEST --
AB Linas Agro Group spent LTL 32 million to acquire 50% shares of UAB Dotnuvos Projektai from other shareholders - natural persons, and took over the management of the company. Up to now, AB Linas Agro Group held 50% shares of UAB Dotnuvos Projektai.
UAB Dotnuvos Projektai, established in 1996, is among the leading sellers of agricultural machinery, seeds and grain storage equipment in Lithuania. Together with its subsidiaries, the company has 214 employees. The main activity of the company is wholesale and retail trade of new and used agricultural machinery and its spare parts, seed production, processing and sales, as well as design and construction works of grain cleaning, drying and storage facilities.
UAB Dotnuvos Projektai is a Lithuanian market leader in seed processing and trading as well as in constructing grain storage facilities, also the company is among the three largest market leaders trading western machinery.
UAB Dotnuvos Projektai manages subsidiary companies in Latvia and Estonia and four Lithuanian branches in Joniškis, Pasvalys, Vilkaviškis and Plungė. The turnover of the company totalled LTL 193 million in 2011, EBITDA reached LTL 15.5 million, while the turnover of the first six months of 2012 totalled LTL 98 million.
“The company Dotnuvos Projektai has been part of our Group business since 1999. Every year we approached each other more and more, because activity of the companies has been constantly linked. UAB Dotnuvos Projektai has a good team of professionals that will allow us to increase the market share of agricultural supply. The company has great potential to expand as development has never stopped through all its years of existence.
We shall continue to provide agritechnological consultations and recommendations to the farmers, provide grain preparation services, also supply them with almost all the goods needed for crop growing: seeds, fertilizers, plant protection products, agricultural machinery. Linas Agro Group will take care that the company's customer service remains the highest level," says managing director of AB Linas Agro Group Darius Zubas.
About UAB Dotnuvos Projektai
The company sells approx. 11-13 thousand tons of seeds, 900-950 units of agricultural equipment, erects or modernizes 20-25 grain storages of various sizes per year and has over 5,000 clients.
Since its establishment, the company has been trading various agricultural machinery imported from well-known Western European producers: Case IH, Kverneland Group, Bogballe, Faresin, Irrimec, Einböck, Quicke, Joskin, Agrifac tractors, combine harvesters for grain crops and feedstuffs, ploughs, scrapers, cultivators, harrows, seeders, harrows for crop maintenance, feedstuff handling machines, frontloaders and telescopic handlers, overhead irrigation and manure handling equipment.
Since 1999, the company has been engaged in design works for grain drying and storage facilities, as well as equipment supply and construction projects management, representing such well-known producers as Cimbria, BIN, Kongskilde.
The first seed processing plant in Lithuania, established by UAB Dotnuvos Projektai in 2003, is capable of preparing up to 15 thousand tons of seeds per year. In 2011 new seed warehouse of 3,500 m2 was built in Dotnuva. In cooperation with Institute of Agriculture (LRCAF), and famous international seed companies: DLF Trifolium, Rapool, Saaten Union, DSV, Maribo Seed, Lantmannen SW Seed, RAGT, I.G. Planzenzucht, BayWa and other plant breeders, the company produces and sells seeds of cereals, oil seed rape, sugar beet, fodder beet, fodder grass, lawn grass, pulses and others. The seeds are sold in Lithuania, Latvia, Estonia, Russia, Belarus and Ukraine.
In 2007, modern agricultural machinery service centre was launched.
In 2010, were founded subsidiary companies – SIA DOTNUVOS PROJEKTAI in Latvia and AS Dotnuvos Projektai in Estonia.
About AB Linas Agro Group
AB Linas Agro Group is an agribusiness parent company engaged in the production and trade of grains, oilseeds, feedstuff and agricultural inputs. It controls companies in Lithuania, Latvia, Estonia and Denmark. The group consists of international agricultural production trading company in Lithuania AB Linas Agro, grain storage company UAB Linas Agro Grūdų centras KŪB (controlling grain storages in Joniškis, Kėdainiai, Kupiškis, Pasvalys, Šakiai district, Šiauliai and Vilkaviškis), Latvian trading company SIA Linas Agro, international trading company Linas Agro A/S in Denmark, group of companies ŽŪB Landvesta, managing agricultural land, group of six agricultural companies UAB Linas Agro Konsultacijos, operator of lignin biofuel accumulation UAB Lignineko, agricultural inputs supply company UAB Dotnuvos projektai and other companies. The financial year of the companies begins on 1 July. The total headcount of the Group amounts to 778 employees.
Together with partners, the controlling company owns logistic company UAB Jungtinė Ekspedicija.
From 17 February 2010 AB Linas Agro Group is included in the main list of companies of NASDAQ OMX Vilnius stock exchange.
Deputy Managing Director of AB Linas Agro Group
Phone +370 687 71 419