July 28, 2006

 

Provimi signs joint venture agreement in Chile
 

Press release
 

 

The Provimi Group, a global leader in the animal nutrition business, has announced that its Chilean subsidiary Alitec has signed a joint venture agreement with AquaChile, the second largest salmon producer in the world, for the production of saltwater fish feed in Provimi's existing plant in Pargua, Chile.  The new company's name will be Alitec Pargua S.A.

 

This strategic alliance is expected to create synergies for both companies in the areas of production, product development, research and the testing and optimal use of new raw materials.

 

Both companies will keep their respective businesses independent and with this alliance, formalise and strengthen their long-lasting business cooperation.

 

Alitec is expected to further optimise use of its plants' capacities and cost structure, and develop new supply and service agreements with AquaChile. The agreement allows Alitec to significantly improve its knowledge of final consumer markets and strengthen its position in the fresh and saltwater fish feed market in Chile and its export activities. 

 

AquaChile will benefit through the joint venture from having its own high quality aquafeed production and from access to Provimi's worldwide feed R&D and technology, production know-how and raw material purchasing.

 

Alitec is mainly involved in salmon feed production. The company has two plants, one in Castro on Chile's Chiloe Island, where it produces fresh water fish feed and the other one in Pargua, part of this joint venture, for saltwater fish feed with an annual production capacity of 120,000 tonnes.

 

The Provimi Group is active worldwide in all types of animal nutrition and is a leader in all markets where it is present. It employs almost 9,000 people and has sales of EUR1.6 billion. Provimi has 100 production centres in some 30 countries and exports to over 100 nations. The company manufactures nutritional products and provides technical support for all species, including ruminants, poultry, swine, horses, fish and pets. 

 

For further information, please contact:

Olivier Leduc (investor relations): +33 (0) 1-34-82-79-04

 

Miriam ter Braak (press relations): +31 (0) 10-4-23-96-33,

or mobile: +31 (0) 6-511-23-766

Other information on Provimi is available on the Group's website: www.provimi.com