August 20, 2008
Israeli food company plans US joint venture
Cham Foods unit Primera will be setting up a poultry and egg joint venture in Wright, Iowa.
Cham Foods will pour in US$30 million of a combined investment of US$60 million in a poultry farm and egg products plant, with each party owning equal shares.
The joint venture will be managed by the Iowa Poultry Association, and will reportedly have 4 million chickens and an egg-breaking facility to produce raw materials for the plant.
Cham Foods operates in Israel, Turkey and the US, with its US activities handled through Primera, a manufacturer of egg products that accounts for 66 percent of its revenue.
