March 23, 2006
Cooperation agreement signed with Vesty Group

(Radio Nacional de Venezuela) - "The Ministry of Agriculture and Land (MAT) together with the National Land Institute (INTI) signed a cooperation agreement with the company Agroflora, subsidiary of the British Vestey Group, by applying the Alternate Method for Conflict Solution contemplated in article 258 of the Venezuelan Constitution. In this agreement, the Venezuelan government recovered 43,000 hectares of ranchs 'San Pablo Paeño' and 'El Charcote', this last one with a payment of 4.2 million dollars, in Apure and Cojedes states respectively.

Agroflora owns 10 ranches located in Falcon, Carabobo, Cojedes and Apure states, with an extension of 314,000 hectares in total. The company's representatives expressed their enthusiasm with this agreement, which will allow new agro-productive projects with cooperatives in these areas, benefiting farmers in the region.

In this sense, Minister of Agriculture and Land, Elias Jaua, expressed that by signing this agreement the government ratifies its good disposition to solve conflicts peacefully and to fight against ownership of large estates. He also indicated that Venezuelans want the reactivation of the agricultural sector.

President of Agroflora, Jasper Scheel Edelmann, had expressed before that 'this agreement allows the development of our investments, as well as the continuance of the cooperation we have given Venezuela for more than 100 years. I also have to say that the atmosphere surrounding the whole agreement was very positive, allowing mutual understanding' (...)

Diana Dos Santos, legal representative of Agroflora, subsidiary of Vestey Group, said with this agreement 'the company is not loosing anything; it gains trust by benefiting the country's successful operations'. Agroflora wins, because it is making a contribution. Our operations will not be harmed by this agreement'.

She explained the company will continue investing and the cattle from those ranches will be transferred to other properties owned by Agroflora. 'We will intensify our investment. We trust Venezuela' (...)".