October 9, 2008
Tyson to invest up to US$4 million in JV with Godrej
Tyson Foods will invest between US$2-4 million in its Indian joint venture with Godrej Agrovet Ltd over the next one year, according to chairman John Tyson.
The investment will develop and market products for the joint venture that will deliver processed and value-added poultry products, said Tyson.
Poultry is usually the low-cost protein in the marketplace when compared to other meats, Tyson said, referring to India's potential.
"There will come a desire to add more protein as incomes rise," he said.
Tyson purchase a 51 percent stake in the venture, called Godrej Tyson Foods, for US$16 million. The company will be closing about 2-3 deals in the next few months, said Tyson.
