Melbourne, Dec 20, 2007 AEST (ABN Newswire) - The Directors of Solagran Limited (ASX: SLA) are pleased to announce the achievement of two important milestones in the ongoing development of its Bioeffective-R production facilities in Tomsk.
Increase in Shareholding in SibEX
In anticipation of production commencing at the Tomsk A production facility in January 2008, Solagran has now increased its holding in SibEX from 60 percent to 85 percent. The Tomsk A production facility will have the capacity to produce 20kg per month of Bioeffective R. It should be operating at full capacity by March 2008.
Securing Site for Tomsk B Production Facility
Solagran will today submit an application that will secure its chosen site in the Tomsk special economic zone. The enclosed letter provides further information in relation to the application process.
The Tomsk B facility will have the potential to manufacture 200kg per month of Bioeffective R. This capacity will be required within 18 months to meet demand in Russia. This facility will also provide a template for roll out to build Solagran's manufacturing footprint in Western Europe and the Pacific Northwest.
The Directors will present further information in relation to both these matters at the AGM this Friday.
Contact
Peter Stedwell
Tel 61 3 9820 2699
Fax 61 3 9820 3155
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