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JBS to Lease Frangosul Plants in Brazil
USAgNet - 05/07/2012
Brazilian meat processing giant, JBS SA, is to lease the assets of Brazilian poultry processor Frangosul, a company controlled by the French group, Doux. JBS said the move is another step to become the largest producer and meat processor in the world.
The company is already the second largest operator in the global poultry segment.
According to PoultrySite.com, JBS said it will not assume any pending, charges, restraint, seizure or inability of any other nature as part of the agreement.
This is a lease asset and JBS said it will hire all current Frangosul employees and continue all contracts with the integrated service providers and third parties.
With this new Brazilian chicken operation, JBS will have more than 15 percent of the world's production capacity--approximately nine million birds per day.
In Brazil, the operations are distributed in major grain producing states and will add to existing chicken units in 12 states, Mexico and Puerto Rico, where the JBS already has one of the largest industrial parks in the world in this segment.
JBS says these assets will allow it to act consistently in the Brazilian chicken market and may also transfer technology and knowledge between their units.
United States and Brazil are the two largest players in the global poultry segment. Together they represent 30 percent of the world poultry market, 36 percent of global production and 70 per cent of all chicken meat exported worldwide.
These indicators demonstrate the competitiveness of both countries, the market penetration they already have in various markets and the strength of their domestic markets.
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