THE Minerva (BEEF3) bought two refrigeration units specialized in sheep (sheep breeding) in Australia, shows a statement sent to the market this Thursday (26).
The purchase was carried out through a joint venture between the company and the Saudi investor group Salic, in which Minerva holds a 65% stake, while Salic holds the remaining 35%.
“The expectation is that the plants will be ready to start operating within 60 days, right after approval by the local regulatory bodies. When in full operation, the plants will be able to reach the slaughtering capacity of 1 million heads per year”, he informs.
In addition, the protein giant has announced a total JV investment of approximately $35 million, which includes:
- acquisition of assets;
- investments to improve plant structures;
- working capital.
Currently, Australia is the largest global exporter of processed sheep, being recognized worldwide for the tradition and quality of its products, as well as access to high-growth destinations such as Asia and the Middle East, but also premium markets such as the United States, Europe, Japan , South Korea, among others.
Salic already has experience with sheep breeding and fattening operations in Australia, “which enables greater operational efficiency of the new assets”.
“In addition, Minerva Foods, through its trading operation headquartered in the region, including expertise in the sale of sheep and with a strong focus on consumer markets in Asia and the Middle East, will also substantially contribute to the commercial structure of the new operations ”, complete.
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