IMC was established in 2007 and since then it has been operating. However the history of the business development by existing shareholders goes back to 1998.
The significant milestones in the development
During 2015-2016 IMC worked on improving of efficiency of all business processes.
A motivation system for the personnel based on KPIs (Key Performance Indicators) was introduced.
A company development strategy was drawn up for the years 2016-2020.
In 2015 the company began realizing a project on optimization of dairy farming.
In July 2016 IMC obtained a loan in the sum of USD 20 million from the European Bank for Reconstruction and Development (EBRD).
In 2013 IMC increased its land bank to 136.7 ths. hectares due to the acquisition of agricultural company, leasing 16 000 hectares of land in the Chernihiv region of Ukraine and possessing grain and oilseed crops’ storage capacities of 195 000 tonnes, On the basis of the acquired company, a new cluster of IMC (Pryluky) was created.
During 2013-2014, the first time in company’s history, IMC built a new modern elevator with capacity of 25 ths. tonnes of grain of corn. The official opening of the elevator took place in June 2014.
As a result of the acquisition of storage capacities and construction of its own new elevator, the total storage capacity of grain and oilseeds of IMC totaled 554,000 tonnes.
In January 2014, IMC attracted a $30 million long-term loan from the International Finance Corporation (IFC, a member of the World Bank Group).
IMC has continued its cooperation with the International Finance Corporation (IFC) within the framework of the project “Sustainable Development of Medium and Small -Scale Farmers in Ukraine”, which is being implemented by IFC, and is supported with funds from the Austrian Ministry of Finance. The aim of the project is to increase the efficiency of agricultural production in Ukraine and make the most innovative technologies and high-tech solutions available to Ukrainian agricultural producers. IMC has been selected as a member of the project among many Ukrainian agricultural companies. Partners and consultants of this project are Bayer CropScience and Ernst & Young.
Expansion of the land bank under processing took place in the existing clusters of the Company in Poltava, Sumy and Chernihiv regions. The forth agrarian cluster has been created in the Chernihiv region with its centre in Nosivka.
Following the strategy of permanent full sufficiency in own storage capacities the Company increased its grain and oilseed crops' storage capacities by 60% from 211 th tons in 2011 to 338 th tons in 2012.
Re-branding of the Company has been conducted. IMC introduced its new logo and corporative design.
The social program IMC. Aid to People. was established. It combines all long-term efforts of the Company to provide a social aid in three directions:
Implementation of satellite management system based on spectral analysis of accurate satellite images of the fields (The Integrated Efficiency Management System “IMC Compass” – phase 3).
In May, 2011 the Company completed IPO on Warsaw Stock Exchange, IMC raised US$24,4 mln to finance development of the company.
By the end of 2011 IMC established the third agrarian cluster in the Sumy region after acquisition of 6 agrarian companies and the grain & oilseeds silo with the storage capacity of 34,000 tonnes.
The land bank was increased to 59,640 hectares, the grain & oilseeds storage capacities totaled 211,000 tonnes.
In 2011 grain and oilseeds production totaled 171,800 tonnes. The potato production is considerably increased – 15,400 tonnes. IMC built the new modern potato storage capacity of 13,500 tonnes, which are equipped with special climate control systems.
By the end of the year there were 7,531 head of dairy cattle, including 3,888 milking cows. Raw milk output totaled 18,100 tonnes.
The pilot project Fieldlook on precision farming was completed together with IFC and the Dutch company DIFCO.
Implementation of precision planting technology (The Integrated Efficiency Management System “IMC Compass” – phase 2).
The total operational land bank reached 37,900 hectares.
IMC’s major crops yields are constantly 30%-50% higher than the Ukrainian average. The sufficient management system and usage of modern technologies and machinery enable to reduce the production costs by 44% as compared with the Ukrainian average.
The project to revive potato production in the Chernihiv region was increasing. The potato output was 5,800 tonnes.
Milk production and average yields were increasing. In 2010 raw milk output reached 16,100 tonnes, milk yields were 25% higher as compared with the Ukrainian average.
Grain and oilseeds output totaled 154,000 tonnes, potato output – 3,800 tonnes, raw milk output – 15,600 tonnes.
Establishment of accounting and control technology (The Integrated Efficiency Management System “IMC Compass” phase – 1).
The total operational land bank reached 35,800 hectares with grain and oilseeds output of 127,000 tonnes. The potato project was launched with potato output of 1,900 tonnes.
IMC acquired the vertical grain & oilseeds silo with the storage capacity of 100,000 tonnes in the Chernihiv region.
The total dairy herd headcount was 6,900 heads including 2,800 milking cows with raw milk output of 12,900 tonnes.
IMC founder disposed of Cheese Club Corporation for almost US$200 million in 2007.
In 2007 IMC Group was established following acquisition of two agricultural companies in Poltava region.
The total operational land bank stood at 20,600 thousand hectares with grain and oilseeds output of 55,500 tonnes. The vertical grain & oilseeds silo in the Poltava region was acquired. The total grain and oilseeds storage capacities were 72,000 tonnes.
IMC established the second agricultural cluster in the Chernihiv region by acquiring four agricultural companies in 2007.
Revenues of KMPP increased 5-fold from US$4 million in 1999 to US$20 million in 2003.
KMPP was successfully disposed to Unimilk Group by IMC founder.
Following disposal of KMPP IMC founder made the decision to launch the Cheese Club Corporation project to fill a gap in the fast growing hard cheese segment in the Ukrainian, Russian and CIS markets with similar brand name. During 2003-2006 six milk processing plants were acquired.