Operations Update - Tandarei crushing plant

Operations Update - Tandarei crushing plant

01.06.2019

Tandarei crushing plant, located in Ialomita, Romania, with a processing capacity of 650 metric tons (MT) of sunflower seeds per day, was recently acquired by Global Grain International, a Romanian subsidiary of Trans-Oil Group. Since closing of the deal in March 2019, Global Grain International hired over 30 people for de-hulling and extraction departments. In May 2019, a new boiler house with an output of 4 MT of steam per hour was commissioned. In addition, by mid-June, a new meal granulator with a total capacity of 15 MT of meal per hour will be commissioned. Within the month of June, Global Grain International will be also EU certified both ISO 9001:22001 and ISCC.

After almost 2 years of leasing of Tandarei plant to Global Grain International, EFA Dynamic Trade Finance (EFA), a subsidiary of EFA Group, which is a Singapore based independent asset manager, has finally sold the plant to Global Grain International. This acquisition was financed by International Investment Bank (IIB) under a 7-year investment facility of EUR 10 million. IIB has also provided a long-term working capital facility of EUR 10 million. The operations in Romania will be consolidated into Trans-Oil Group consolidated financial statements for the financial year ending June 30, 2019. Full operational consolidation and earnings contribution to the Group will start from the new season, with the inception of crushing season by the end of August