Cherkizovo Group invests 500 mln roubles in renovation of the processed meat product facility at its flagship Cherkizovsky Meat Processing Plant said in the company statement.
When the renovations are completed, the new facility will have a capacity of 1,500 tonnes per month or 50 tonnes per day.
“Increasing output and expanding the range of processed meat products is a strategic decision”, says Alexander Kostikov, Head of Communications and Investor Relations of Cherkizovo Group. “The market for chilled meat products is very promising today, so we have started the renovations in an effort to meet the steadily growing demand for high-quality domestic meat products. The new line will produce processed meats under our popular Cherkizovsky brand, which includes ground meat, sausages, rib steaks and stewing meat. Production will start by summer, and the processed meat product facility will reach full capacity by the end of this year.”
OJSC Cherkizovo Group is one of the top three companies serving Russia’s poultry, pork and meat processing markets. The company is also Russia’s largest producer of fodder.
In 2012, Cherkizovo produced more than half a million tons of meat and processed meat products. Within the last five years alone, Cherkizovo has invested more than USD 1 billion into the development of Russia’s agriculture sector. In addition to existing production facilities, the Group is also investing in a 20 billion rouble hi-technology agro-industrial production complex in Elets, Lipetsk region.