CFG/MRIYA investment in machinery to exceed USD 50 mln

In 2019, SALIC UK Ltd, the mutual investor of the CFG/MRIYA combined business, intends to allocate more than USD 50 million to increase the technical capacities of the company.

"Recently, the combined company CFG/MRIYA received another batch of new agricultural equipment purchased in the production season-2019. In addition to the 17 units of trailed agricultural machinery purchased at the beginning of March, the agricultural holding reinforced its technical park with 13 370 HP and 18 240 HP tractors Massey Ferguson, 10 self-propelled sprayers New Holland and other tillage and special equipment with a total value of USD 8.7 million," the message says.

Since the beginning of the year, CFG/MRIYA has already expanded its technical park with about 60 units of new agricultural equipment for the amount of USD 11 million and expects the delivery of another 190 units of machinery in the next future.

"The company also plans to purchase combines, loaders and transport trailers in the next few months to ensure the effective harvesting campaign. The total CFG/MRIYA CAPEX plan for the year 2019 amounts USD 51 million," CFG/MRIYA says in the statement.

Previously it was reported that Georg von Nolcken was appointed Chief Operating Officer (COO) of the combined companies Continental Farmers Group and MRIYA Agroholding.