Leading Russian fresh produce company Sunway Group has refuted rumours in the Russian media that its business could face similar difficulties to Sorus Co, which went bankrupt last November.
Despite reports that a number of Russian fresh produce importers have faced problems making payments in the current economic climate, Sunway’s general manager, Igor Khayak, told Fruitnet that the company was confident of honouring its obligations.
“The group is not only a trader, but also a producer in various countries, a shipowner with six company-owned vessels and a number of vessels in long term charters, as well as being the biggest Russian fruit distributor,” said Mr Khayak.
“While the current economic climate inevitably has had an influence on us, we are confident that the group will continue to carry out its operations normally,” he added.
An industry source had earlier claimed that Sunway had experienced some difficulties at the same time as Sorus’ bankruptcy, but had succeeded in making all payments on obligations that were due in December.
But Mr Khayak denied that the company had faced problems or would experience difficulties this year.
“We did repay the RUR1bn (€23.9m) loan on schedule in December and in spring 2009 we have to repay the leftovers of the next bond issue (end of May) and we are equally prepared to do so,” he explained.
