February 17, 2010

CP Turkey to grow investment targets

Turkey's leading company in the white meat sector, CP Turkey, will increase its investment targets for this year due to improvements in foreign markets.

According to CP Turkey deputy chief executive Nezih Gençer, the company built a new advanced-processed chicken products facility with a US$19 million volume investment in the Osmaneli district of Bilecik, a northwestern city of Turkey.

Gençer noted that the company plans to begin its first trial production this month at the facility, which covers 14.8 acres of land.

Another investment planned for this year includes an egg and poultry facility in the İnegöl district of Turkey's northwestern city of Bursa, he said. The company will invest a total of 10 million Turkish liras (TRY) in this facility, which is set to be completed in October this year. The plant is expected to breed nearly 10 million chicks annually.

Noting processed chicken products exports have already begun to EU countries, Gençer said unprocessed chicken meat sales to those countries is one of their aims, while Russia has also given the green light for Turkish chickens.

A large amount of the world's chicken meat trade is made with neighboring countries, such as Saudi Arabia and Russia, he noted.

CP Turkey has a 9% share in the white meat industry with six feed factories, 117,000 tonnes of chicken meat production and an annual TRY637 million turnover.