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PRF: AS Premia Foods and insurance company Fennia signed an agreement to indemnify the damages of the fire

Spekuliantai.lt | 2010-06-30 | NASDAQ OMX biržų naujienos | perskaitė: 1395
Raktiniai žodžiai: Premia Foods AS, PRF
PRF: AS Premia Foods and insurance company Fennia signed an agreement to indemnify the damages of the fire

Premia Foods Company Announcement 30.06.2010

AS Premia Foods and insurance company Fennia signed an agreement to indemnify
the damages of the fire

AS Premia Foods and insurance company Fennia signed an agreement to indemnify
the damages of the fire

On June 28th, 2010, Heimon Kala Oy, the subsidiary of AS Premia Foods and
insurance company Fennia signed the agreement about the reimbursement of the
damages caused by the fire in the production unit of Heimon Kala Oy in
Uusikaupunki on May 20th 2010 in the total amount of 2,9 million EUR.

The above amount will cover all direct damages to the property and inventory in
the total amount of ca 1,2 million EUR and business interruption and labor cost
in the total amount of ca 1,7 million EUR. As the result of the transaction,
Heimon Kala Oy will have extraordinary income of approximately 2,2 million EUR
in the 2nd quarter 2010.

Heimon Kala Oy operated in rented premises in Uusikaupunki, the equipment was
in the ownership of the company. The production unit in Uusikaupunki produced
mainly smoked fish products for Finnish market. The main fish production unit
of AS Premia Foods is located in Saaremaa, Estonia.

The total effect of the fire on the consolidated financials and operations of
AS Premia Foods in not material. Due to the changes made in the product
portfolio and production processes, the current sales volume is about 75% of
the pre-fire period and the full capacity is planned to be reached by the
beginning of 4th quarter 2010.


Additional information:

Andri Avila
CFO
AS Premia Foods
Tel: +372 6 033 800
E-post: andri.avila@premia.ee
http://www.premiafoods.eu

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