Cargill Australian joint venture approved
18/08/2011
It will include the assets of both companies’ existing beef processing and cattle feeding businesses in Australia, which in Cargill’s case is Cargill Beef Australia, plus the Teys tannery. It will have the capacity to process 1.5 million head of cattle per year.
On hearing the news, Brad Teys, chief executive of Teys Bros, said: “We are pleased with the regulatory approvals, as this joint venture ensures the new company has the depth and scale to provide growth opportunities for Australian cattle producers by driving efficiencies through all parts of the business and providing greater access to domestic and international markets.”
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