February 26, 2014
Pilgrim's Pride to open new poultry complex in Mexico
Pilgrim's Pride's president and chief executive officer Bill Lovette, expressed optimism about the 2014 fiscal year and announced that the company will open a new Greenfield poultry complex in Mexico.
The potential for expansion in the region is significant thanks to a growing economy, increased chicken consumption there and the proximity of poultry operations north of Mexico City. The company plans to develop the complex using the successful grower model that has been utilised in the US.
Looking ahead, Lovette said market conditions are favourable for the company's domestic business and that its Mexican operations improved to finish the year on a strong note, thanks to improvement in poultry demand and pricing.
Fabio Sandri, Pilgrim's chief finance officer (CFO), said the investment in the project is a part of the company's capital expenditures figure of US$150 million planned for 2014. The plan includes establishing live-chicken sales, followed by the construction of a feed mill and hatchery and importing hatching eggs as the breeder supply is built.
