Moderna

completed

Moderna Alimentos S.A. ("Moderna" or the "Company") is the market leader in wheat flour milling in Ecuador with a 40% market share. It produces wheat flour and bakery products from imported wheat and sells to industry clients (65%), consumers (25%), and the government’s social programs (10%) through its own nationwide distribution network. It has two flour mills in Manta and Riobamba with a total capacity of 540 tons per day (tpd) and has recently acquired a further flour and feed mill and pasta operation at Cayambe (55km north of Quito) with an associated run-of-the-river hydropower plant generating power for the industrial operation and selling the surplus to the regional grid.