Nutreco strengthens poultry operations in Spain
Nutreco has signed a letter of intent to purchase the feed, poultry and pig
assets of Copaga in Catalonia, Spain.
Copaga's assets to be acquired comprise a feed factory (300,000 tonnes), a
poultry processing facility, as well as a pig integration business.
The poultry processing plant has the production capacity to produce approx.
25 million chickens per year, and has been operated by Nutreco since July 2000
under a lease contract. The pig integration business of Copaga has 11,000 sows
producing approximately 200,000 pigs per year.
The acquisition of these assets of Copaga enables Nutreco (Spain) to
further optimise feed, poultry and pig capacity, as well as to reduce production
costs, resulting in additional revenue of approx. €50 million. The transaction
is subject to due diligence and approval of the members of the Copaga
cooperative and of Spanish regulatory authorities. It is expected to close in
the first quarter of 2008.
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