Marfrig to invest $309 million in China poultry operations, logistics
Joint ventures will bring in Chinwhiz, Cofco LTDA
Brazilian meat packer Marfrig Alimentos SA will invest $309 million in implementing vertical integration in Chinese poultry operations and creating a multi-temperature logistics company in China, according to reports.
The joint ventures, which will be carried out with Chinwhiz and Cofco LTDA, respectively, will be handled through Marfrig's international arm, Keystone Foods. "With these investments, Marfrig will be strategically positioned to meet the growing demand for food in the Chinese market, with operations that range from processing to distribution to clients," said the company in a statement. "The investment is also consistent with the company's strategy of focusing on its financial sustainability over the long term, which will contribute to consistent cash generation."