Damate received the right to claim for obligations of Donstar

26.05.2020
Turkey production

Damate Group and Rosselkhozbank JSC signed an agreement under the terms of which the bank transferred the company claim rights for obligations of Donstar LLC (Rostov region), which owns the country's largest industrial complex for the production of duck meat with a capacity of 16.5 thousand tons per year. New Duck Farms LLC (part of Damate Group) became the new lender.

The duck production complex Donstar is the largest in the country. Its vertically integrated structure includes an incubator, a complex for growing the parent herd, a platform for growing ducks, a processing plant, as well as an elevator and a feed production workshop.

In 2018, production at Donstar LLC was stopped due to deterioration in the financial situation caused by a number of managerial errors and an unfavorable epizootic situation. The company is currently in bankruptcy proceedings.

Restarting high-tech industrial duck production at a higher level under the control of Damate Group with financial support of Rosselkhozbank JSC will allow restoring jobs, reducing social tension in the region, and resuming tax deductions to the budget.

“Given the uniqueness of the production complex of Donstar LLC and its socio-economic significance both for the country and in particular for Rostov region, the Agricultural Bank (Rosselkhozbank JSC), being the supporting bank of the agro-industrial complex, carefully selected an effective investor with advanced experience in industrial production and sales of poultry meat, as well as ready to take responsibility for the revival of the project. The choice fell on this investor for a reason: Damate Group has established itself as a dynamically developing and efficient agro-industrial company,” noted Irina Zhachkina, First Deputy Chairman of the Board of the Russian Agricultural Bank.