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    AGR   AT000AGRANA3

AGRANA BETEILIGUNGS-AG

(AGR)
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PRESS RELEASE : AGRANA / Campaign start: processing at starch factories well underway - IMAGE

09/16/2021 | 04:31am EST
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  Corporate news transmitted by euro adhoc with the aim of a Europe-wide 
  distribution. The issuer is responsible for the content of this announcement. 
=------------------------------------------------------------------------------- 
 
EUR 25 million investment in additional capacity 
 
Company Information 
 
Vienna - The processing campaigns at AGRANA's three Austrian starch factories 
are already well underway. The AGRANA plant in Gmünd (Lower Austria) began 
receiving deliveries of starch potatoes on 30 August. The organic starch 
campaign also started here this week. Processing wet corn has been ongoing at 
the AGRANA sites in Aschach/Donau (Upper Austria) and Pischelsdorf (Lower 
Austria) since 15 September. 
 
 
Starch potatoes 
 
The starch potato campaign in Gmünd is expected to last around 130 days and 
finish in early January. Approximately 250,000 metric tons have been contracted 
for the 2021 season and current harvesting forecasts suggest that this volume 
will also be reached. Due to the slow vegetation growth this year, however, the 
quantity of potatoes ultimately depends on the weather conditions in autumn. The 
average starch content is expected to be on a par with the prior year at 18.5 
percent. 
 
The plant in Gmünd is Austria's only potato starch factory and the most 
important customer for around 1,350 potato growers. EUR 12 million are currently 
being invested in the existing production facilities at the Gmünd site to expand 
its drying capacity. Specifically, this entails building a spraying tower - a 
drying plant for infant formula, maltodextrin and dried glucose syrup - as well 
as a drum-drying plant for dehydrated potato products. 
 
 
Corn 
 
The wet corn campaign at the plants in Aschach/Donau and Pischelsdorf is 
forecast to last until the middle of December. This will be followed by a switch 
back to the use of dry corn. Due to the weather conditions this year and the 
later vegetation growth compared to the prior year, average to good yields are 
expected for the 2021 corn harvest. 
 
The immediate processing of the freshly-harvested corn protects the environment 
since energy-intensive drying is not necessary. In 2020, the processing volume 
of wet corn in Aschach/Donau amounted to around 150,000 metric tons. This led to 
a saving of over two million litres of fuel oil for the drying process. Besides 
the environmental advantage, wet corn also enables farmers to achieve a higher 
gross margin compared to dry corn since the drying costs are not incurred. 
 
A total of around 500,000 metric tons of corn - increasingly also special corn 
varieties such as waxy and organic corn - are processed annually at the Aschach 
site. AGRANA is currently investing around EUR 13 million at this facility to 
expand its capacity for processing special corn varieties. 
 
 
 
About starch 
 
Starch is used in nearly all areas of the food industry, for example in the 
baking and confectionery sectors or in dairy products. Due to its excellent 
palatability, starch is also used in infant formulas. Starch also plays an 
important role in the non-food sector. The main customers here are the paper and 
paper processing industries (e.g. corrugated board), the textiles industry 
(finishes and adhesives for fabrics), the construction chemicals industry 
(pigment pastes and shotcrete) and the petroleum industry. Starch is also 
contained in many pharmaceutical products (tablets) as well as in cosmetics, 
such as baby powder, and in household products and medical gloves. 
 
 
About AGRANA 
 
AGRANA converts agricultural raw materials into high-quality foods and numerous 
industrial intermediate products. Around 9,000 employees at 56 production sites 
worldwide generate annual Group revenue of approximately EUR 2.5 billion. 
Established in 1988, the company is the world's market leader in fruit 
preparations and the leading producer of fruit juice concentrates in Europe. In 
addition, its Starch segment is also a major manufacturer of custom starch 
products (made from potato, corn and wheat) and of bioethanol. AGRANA is the 
leading sugar producer in Central and Eastern Europe. 
 
This announcement is available in German and English at https://www.agrana.com/ 
en [https://www.agrana.com/en] 
 
 
 
 
Further inquiry note: 
GRANA Beteiligungs-AG 
 
 
Mag.(FH) Hannes Haider 
Investor Relations 
Tel.: +43-1-211 37-12905 
e-mail:hannes.haider@agrana.com 
 
 
Mag.(FH) Markus Simak 
Public Relations 
Tel.: +43-1-211 37-12084 
e-mail: markus.simak@agrana.com 
 
end of announcement                         euro adhoc 
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Pictures with Announcement: 
=--------------------------------------------- 
http://resources.euroadhoc.com/images/2118/5/10785313/195_20161129_agrana_gmuend.jpg 
 
 
 

(END) Dow Jones Newswires

September 16, 2021 04:30 ET (08:30 GMT)

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