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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

MHP in Ukraine Faces Financing Crisis

03/24/2022

The war in Ukraine has seriously impacted the operations and sales of MHP, the largest broiler producer in the nation.  Accordingly, the company has requested a nine-month extension of the grace period to delay paying interest on loans.  The Company requires working capital to plant crops required for flocks. In a company statement MHP noted, “Realization of the sowing campaign will be crucial for the continuity of the business.  The success of the harvest is also expected to contribute to food security in Ukraine and internationally.”

Between 2014 and 2015, the company lost over $520 million with return to profitability in 2016 with a net positive of $17 million.

 

Following the invasion of Ukraine by Russia, the national bank of Ukraine prohibited international payments preventing MHP honoring loan commitments, even if funds were available.

 


 
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