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PAVA reduced product inventories by 29.6% in Q1 2009
In Q1 2009 Altay company PAVA maintained sound policy of inventory control, lowering the figure by 29.6%
BARNAUL, RUSSIA, July 23, 2009 /Agriculture PR News/ -- According to RAS-based financial statements, major Russian grain processor PAVA reduced the product inventories by 29.6% in Q1 2009. The decrease of inventory levels stood at RUR75,789,000.
The period under review was quite challenging for OJSC PAVA, since it was preparing for the bond repurchase scheduled on May 6. Selling surplus product supplies allowed to accumulate more cash in the company's accounts - the cash resources were up 74.6% in Q1 2009.
The rational principles of inventory control, which prevent overstocking, and smooth operational process enhance the company's resilience against global liquidity crunch. PAVA was among the few Russian agribusinesses that totally fulfilled its obligations to bondholders, and has maintained strong pace of business expansion.
About PAVA OJSC
OJSC PAVA is known as one of the three leading operators on the Russian grain processing market. Its principal activities are manufacturing and distribution of such products as flour of different grades, cereals, confectionery and animal feed.
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Press Release Contact Information:
Yulia Chebotareva
PAVA OJSC
PR manager
Pushkina 38
Barnaul, Altay region
Russia 656049
Voice: +7 3852 630155
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