March 22, 2006

Brazil's Sadia to open meat plant in Russia in joint venture

Brazilian meat producer Sadia is planning to build a US$70 million meat plant in Russia, the company announced Tuesday.

The official said the company would have a joint venture with Russian company Miratorg, a large meat wholesaler and exclusive distributor of Sadia's products on the Russian market. This is the ninth year Sadia has been in Russia.

The plant will produce sausages and other meat products in its initial phase, and start production of frozen prefabricated meat products later.

The company doubled its net profits in 2005 to US$320 million on-year, with gross sales of about US$4 billion.