October 18, 2006

Cherkizovo Group aims for 20 percent of Russian meat market

Russia's OAO Cherkizovo Group is aiming to eventually occupy around 20 percent of the Russian meat market, Chief Executive Sergei Mikhailov said in an interview with the Vedomosti business daily Wednesday (Oct 18).

For now, the company is aiming for 10 percent. Cherkizovo is currently estimated to hold around 6 percent to 7 percent of the market. 

Cherkizovo is not only boosting capacity at its poultry and meat processing units and building pork facilities, but is also actively seeking acquisition targets, Mikhailov said during a conference call Tuesday.