Russian Agricultural Division (RAD) approves the sown area for 2009 campaign and targets gradual renovation of machinery fleet while the company prepares for international listing.
Russia, January 29, 2009 (PRESSbooth.ORG) -- PAVA agricultural arm RAD (www.radcorp.ru), nearing the phase of capital raising, has completed revising 2009 business plans for all its daughter farms. These documents support the company’s commitment to dynamic development and sustainable farming operations.
Since RAD’s incorporation last year, the company has been enlarging its land bank, and was especially active in the last months of 2008. Recent acquisitions allowed to split the company structure into three divisions, based on geographical factor – Central, East and West, the latter including subsidiary in the Omsk Region.
The plan provided details on sowing operations and enhanced cost controls. RAD qualified specialists estimated the cultivation area, which will comprise lands in all regions of its presence. The figures fully correspond to the initial targets; however, the company revealed that with the current state of the soils expansion is possible, if extra funds were injected.
As was announced earlier, Russian Agricultural Division launched its own elite seeds bank, and intends to use this prime quality material in 2009 sowing campaign.
Among the priority issues was continued upgrade of machinery fleet with highly efficient aggregates, which will improve operating performance and fuel economy.
RAD reiterated its plans for expanding land under control up to at least 500,000 ha by 2010 and the intent to enter international capital market for financing further development.
Contact:
www.radcorp.ru
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