Ukraine Poultry Firm MHP Valued At $1.7 Bln In IPO - 09 May 2008 11:03:05 GMT |
Mironovskiy Hleboproduct (MHP), Ukraine's biggest poultry producer, will seek to raise about $322.5 million in an initial public offering in London that would value the firm at $1.7 billion.
The company, which also produces grain, said in a statement on Friday it had priced the IPO at $15 per global depositary receipt (GDR). Each GDR represents one ordinary share. The offering comprises 10.75 million existing ordinary shares in the form of GDRs, offered by WTI Trading Ltd (WTI), and 10.75 million new GDRs, together representing around 19.41 percent of MHP's increased share capital. MHP also said WTI had granted an over-allotment option to the joint bookrunners -- Morgan Stanley and UBS -- to purchase or procure purchasers for up to 3.225 million additional existing ordinary shares in the form of GDRs. If the option is exercised in full, the offering will equal around 22.32 percent of its share capital, the firm said, and IPO proceeds would amount to around $371 million. Unconditional trade in MHP's shares on the London Stock Exchange is expected to start on May 15. MHP has a 36 percent market share of chicken production in Ukraine and has one of the largest agricultural land portfolios with around 140,000 hectares under cultivation. It plans to use proceeds from the IPO to finance the expansion of its poultry and grain businesses, including potential land purchases and acquisitions in the Ukrainian agricultural market. In 2007, MHP said it had revenue from continuing operations of $478 million and earnings before interest, tax, depreciation and amortisation (EBITDA) of $164 million. www.guardian.co.uk |
New Product Developments For Poultry Processing Equipment - South Africa - 09 May 2008 11:00:33 GMT |
JF Equipment, one of South Africa’s leading developers of poultry processing machinery, has begun developing equipment previously only available by import.
The first of these machines, which will be available later in 2008, is an inside outside washer designed to reduce the cost of ownership for abattoirs the world over. “Developing products that are cost effective, of the best quality and incorporate the best technology available on the market is our goal at JF Equipment,” says Pat Young, Sales Director for JF Equipment. The evisceration process involves six complex stages, each requiring highly sophisticated equipment which is complicated to repair and use parts that are both expensive and time-consuming to obtain. In order to reduce these costs of ownership for abattoir operators, JF Equipment is developing a line of evisceration equipment that will incorporate the best principles of equipment design commensurate with achieving low cost ownership. This new equipment will be designed, manufactured and installed using local expertise. Stages of evisceration process - The six stages of the evisceration process start with the Vent Cutter, which prepares the chicken for the next operation by removing the complete cloacal sphincter without breaking the intestine. Following this, the Opening Machine makes an incision from the popes nose to the keel bone, in preparation for the spoon on the Eviscerator to enter the abdominal cavity and remove the contents. Once the edible offal has been harvested, the birds enter the Cropper, where the crop, trachea and neck glands are removed. The neck breaker then does exactly that, and the birds finally enter the Inside/outside wash machine. Why the new design? The aim of the new design of these six machines will be to improve ease of maintenance, make parts cheaper and allow for complete cleaning. To this end, the cam drums normally found in these machines have been replaced by hollow tracks supporting segmented synthetic cam units. “It is our goal to offer abattoir owners a line of poultry processing equipment that is efficient and cost effective,” says Young. “By developing products based on proven and efficient principles will not only make our products better value for money but will allow for an increased yield on behalf of the abattoir”. JF Equipment will be taking orders for the new evisceration equipment from August 2008.
www.worldpoultry.net |
Plumped-Up Poultry Means Meaty Prices - USA - 09 May 2008 10:56:09 GMT |
The next time you're at the grocery store, you may want to take a closer look at the label on the frozen chicken.
You may be paying more for the poultry without realizing it. "Some poultry companies have been injecting products with broth or immersing them in salty solutions to try to make them tastier and more tender," said Kim Klemen of Consumer Reports. Some labels claim the products are "enhanced" with up to 15 percent chicken broth. "Pumping up the meat can also add water weight and sodium," Klemen said. At $14.61, it means you could be playing up to $2.19 for the added liquid, Klemen added. Consumer Reports suggests checking the fine print on the labels to see if it has the added liquid or if it's all-natural. That way, you avoid paying for the extra liquid and the extra sodium. www.ksat.com |
Misr Arabian Poultry Sets Sights On Rival - Eypt - 09 May 2008 10:54:07 GMT |
Ismailiya Misr Arabian Poultry has tabled a EŁ426m ($80m) takeover bid for rival chicken producer Ismailiya Misr Poultry.
The bidder is part of the Dallah el-Baraka group of companies, a Saudi Arabian conglomerate owned by Sheikh Saleh Kamel. According to Middle East Business Intelligence, the takeover target is an Egyptian company listed on the Cairo & Alexandria Stock Exchanges. The bid of EŁ70 a share has to be accepted before 18 May. Ismailiya Misr Arabian Poultry will accept a 51 per cent controlling stake in its takeover target if it fails to secure 100 per cent of the equity. www.thepoultrysite.com |
Easley Wants Money To Determine Poultry Workers' Injuries - USA - 09 May 2008 10:52:09 GMT |
A top aide says Gov. Mike Easley will ask lawmakers next week for money to help determine how often poultry workers are hurt on the job.
The Charlotte Observer reported Thursday that gubernatorial policy director Alan Hirsch says Easley wants more money for the Public Health Division to hire additional workers to regularly visit poultry plants. Hirsch says conditions should improve with more public attention. Easley's proposals come after a series of Observer stories about working conditions in the poultry industry. Some workers have said they were ignored, threatened or fired when they were hurt on the job. Easley plans to ask for $350,000 to hire two occupational health nurses and two industrial hygienists to visit poultry plants. He also wants more money for the Labor Department so it can fill vacant inspector positions. www.blueridgenow.com |
EU Wants Russia To Lift Meat Bans - 09 May 2008 10:50:17 GMT |
The EU's executive arm has stated that Russia's ban on imported meat from large companies in seven EU countries was disproportionate and should be removed.
"The (European) Commission maintains that EU meat does not pose a risk to the consumer and that the measures taken by Russia are disproportionate," said a spokeswoman for EU Health Commissioner Androulla Vassiliou said in a statement. "Therefore, the Commission has requested Russia to review its measures," the statement said. Antibiotics levels too high Reuters reports that Russia, which is a major consumer of western European meat, has recently introduced a series of company-specific bans on poultry, pork and beef imports after determining that antibiotic levels in meat shipments exceeded safe limits. "On the basis of the initial information available to the Commission, the levels of antibiotic residues reported by Russia remain in most cases well below the maximum residue levels allowed in EU legislation and in the international standard," the spokeswoman said. The ban has affected meat firms in France, Germany, Italy, Spain, Denmark, Belgium and Hungary, while imports from companies in the US, Canada, Brazil and Argentina have also been banned indefinitely. Politically motivated Some European diplomats in Moscow said the restrictions could be politically motivated and obstruct Russian accession to the World Trade Organisation, according to Reuters. Moscow has been accused repeatedly in the last few years of using import bans on agricultural products for political ends, but this has always been denied by Russian officials. www.worldpoultry.net |
Aviagen On The Road In Eastern Europe - 09 May 2008 10:48:19 GMT |
As those in the poultry industry are facing elevated feed prices and increasing production costs, Aviagen KFT, part of the Aviagen Group, recently organised a series of seminars in Hungary, Romania, Slovenia and Serbia.
At these seminars, Aviagen worked with customers and industry partners to provide technical support and topical advice focusing on broiler nutrition and management. Each event included various presentations from Aviagen KFT's regional customer support team and Aviagen's global specialists to update and advise the audiences on a range of topics which included nutrition, management, biosecurity and ventilation. To help address the more recent challenges, Anthony Waller, European Nutrition Service Manager, who is part of Aviagen's Global Technical Team, covered the importance of maintaining the optimum protein and carbohydrate balance for best possible biological and economic performance. He also highlighted the competitive advantage of the Ross broiler and its economic benefits in light of increasing feed costs. Jonny Harrison, Regional Technical Manager, and members of his team talked about various aspects of broiler management to help achieve optimum broiler performance. One of the highlights of the event programme was the presentation of the Perutnina Ptuj Broiler Flock Awards in Slovenia. These Flock Awards reward the farm managers for their stockmanship and enable Aviagen to thank all customers for their help in collecting and sharing information about how the Ross products perform in the field. Jonny Harrison, Regional Technical Manager, commented: "The latest programme of events around Eastern Europe has seen us make contact with over 350 customers, providing them with important advice on how to overcome some of the many challenges that we are facing within the industry. Hosting such events is an important part of the role we play in ensuring that our customers continue to get optimum performance from their Aviagen products." www.worldpoultry.net |
Sales Growth For Provimi In First Quarter Of 2008 - EU - 08 May 2008 11:07:51 GMT |
Animal nutrition company Provimi has announced its sales for the first quarter of 2008, amounting to €532.5 mln, which is an increase of 19.8% compared to the same period in 2007.
This increase was largely due to higher selling prices caused by increased raw material costs. Sales in all parts of the world increased. Raw materials - The first months of 2008 saw a continued increase of raw material prices. The prices of major ingredients, notably soy and grains, continued to show an upward trend. Many vitamins and phosphates also increased in price during the first three months of the year. Market conditions in animal nutrition remain challenging, however, favourable raw material positions and prices increases contributed to operating margins.Outlook for 2008 In spite of a favourable start of the year, raw material markets are expected to remain volatile and market conditions for customers remain challenging. The group will continue its restructuring activities to improve efficiency and to adapt the organisation to the changing market conditions. www.worldpoultry.net |
S. Korea Poultry Industry Raising Awareness - 08 May 2008 10:58:52 GMT |
A variety of businesses in the poultry industry have come together to launch a campaign to raise awareness of bird flu and ease growing fears among consumers amid reports of the disease spreading.
Nine organisations have formed the Korea Poultry Industry Development Council to promote safe consumption of poultry and rectify public misunderstanding of avian influenza, reports the Korea Herald. Members of the group include the Korea Chicken Food Service Association, the Korea Poultry Association, the Korea Duck Association and the Korea Egg Distribution Association. "We're prepared for an aggressive promotion campaign to remove public misperception of bird flu and educate our society on safe poultry consumption, especially since the birds are safe to eat when cooked properly," said MD of the Korea Chicken Food Service Association Lee Kyung-woo. www.worldpoultry.net |
Chicken Prices To Rise In The US - 08 May 2008 11:08:17 GMT |
Food inflation is expected in the US as prices of chicken and pork will go up over the next couple of months, Associated Press reports.
Overall food inflation could double this year, initially lifted by the rising costs of fuel, corn and soybeans, some analysts predict. Food inflation hit 4% in 2007, up from 2.4% in 2006. While beef prices were already high, chicken and pork prices didn't reflect record costs for feed and fuel. That is about to change as chicken and pig producers who have been losing money slaughter more animals to decrease the supply and raise the prices they can charge. According to Pilgrim's Pride CEO Clint Rivers, American consumers are only just beginning to feel the impact of sharply higher food prices. Tyson Foods, the world's biggest meat producer, forecasts that its expenses will rise $1 bln this year, including $600 mln for corn and soybean meal and $100 mln on grain. The balance will come from higher prices for cooking oil, breading and fuel costs, the company said. The company recently reported a $5 mln second-quarter loss and withdrew its earnings outlook, saying feed prices were too volatile. www.worldpoultry.net |
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