ASTON and Vandeputte Huilerie SA announced the establishment of a joint venture for linseed processing and linseed oil production in Russia

ASTON and Vandeputte Huilerie SA announced the establishment of a joint venture for linseed processing and linseed oil production in Russia

01 October 2019

ASTON and Vandeputte Huilerie SA announced the establishment of a joint venture for linseed processing and linseed oil production in Russia

September 30, 2019. On a parity basis, ASTON and Vandeputte Huilerie SA formed a joint venture, which will carry out activities for the processing of linseeds and linseed oil production in the territory of the Russian Federation. Effective from September 26, 2019, the joint venture will operate under the name ASVA and will be managed as an autonomous company, other business projects of the companies in Russia will remain independent from each other.

Its Board will be made up of equal representation of ASTON and Vandeputte Huilerie SA.

ASVA plans to invest more than 1.5 billion rubles in the construction of a new plant in the Novoaleksandrovskaya industrial zone of the Azov region, which will be the first specialized linseed processing enterprise in Russia.

“Vandeputte brings over more than 130 years of linseed knowledge into the partnership and was clearly, as the biggest player in Europe, our preferred partner” – according to Vadim Vikoulov, CEO of ASTON. Our relationship goes back many years and as a supplier of oilseeds, we were impressed by their position and their recent diversification into rich-in-omega-3 linseed oil-based products such as linseed oil for aquaculture purposes, dressings, mayonnaises and even chocolate spreads.

"ASTON has always been a reference as a linseed source in the Rostov region and far beyond provided traceable linseeds from long-term partners in the Russian agricultural community" – said Gauthier Vindevogel, CEO of Vandeputte Huilerie SA.

The joint venture is currently building a state-of-the-art crushing facility in the Rostov region which is expected to be completed and operating in fall 2020. “We are really delighted to announce this game-changing joint venture that will provide sustainably and cost competitive linseed products across the world,” said Henry Vandeputte. “It’s a new milestone for our families’ businesses”.

About ASTON:

For more than 20 years, ASTON has been one of Russia’s largest agricultural and food ingredient businesses. ASTON is the largest exporter of vegetable oils, the leading processor of oilseeds, the third largest exporter of Russian grain. It has a well-developed network of sunflower and corn origination and processing facilities in the western part of Russia and is a key player in Russia’s significant edible oils and starch markets. The company includes enterprises for the production and processing of vegetable oil in Millerovo and Morozovsk (Rostov region), plants for the production of starches and syrups in the Ryazan and Vladimir regions, silo complexes in Rostov and Krasnodar regions, port terminals on the Don river and the deep sea transshipment facilities, shipyard, a fleet of dry cargo coasters and vegetable oil tankers as well as ocean bulk carriers for transportation of grain crops. ASTON supplies products across Russia as well as to Commonwealth of Independent States nations, Africa, Asia and the Far East.

Learn more at www.aston.ru

About Vandeputte Huilerie SA:

For more than a century, the Belgian family-owned company has imagined, and commercialized linseeds-based derivatives. Located in Mouscron, nearby Antwerp and Ghent ports, the firm is exclusively pressing linseeds with a capacity of 120,000 tons annually. From linseed soaps more than 70 years ago to the lately launched dressing product range, Vandeputte Huilerie, today considered as an actor of reference on the 5 continents, has developed partnerships and expertise together with its customers in various fields of applications such as technical, food and animal feed.

www.vandeputte.com

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