Cherkizovo Group OJSC has updated its flagship brand in the meat processing division. As of August 2014, products of the company's Cherkizovsky Meat Processing Plant are being marketed under the "Cherkizovo" brand name (formerly "Cherkizovsky"). The logo placed on the products has also been updated.
The updated Cherkizovo brand will emphasize the link between processed meat products and the company’s agribusinesses, according to the group's statement.
Cherkizovsky Meat Processing Plant located in Northeast Moscow was founded in 1974. Igor Babaev (at present, Chairman of the Board of Directors of Cherkizovo Group) headed the enterprise in the mid-1990s. He established AIC Cherkizovsky and AIC Mikhailovsky, which were merged into Cherkizovo Group in 2005.
Cherkizovo Group is the largest meat and fodder manufacturer in Russia. The Group is one of three leaders on the poultry meat, pork, and sausage product markets. The company's best known brands are Cherkizovsky, Petelinka, Kurinoe Tsarstvo, and Mosselprom.
CEO Sergei Mikhailov and members of his family control 63% of Cherkizovo Group, and 37% of the shares are quoted on the LSE and RTS/MICEX.
Today, more than 300 products are manufactured under the Cherkizovo brand. Cherkizovo Group combines 8 poultry production complexes with a combined capacity of 500,000 tonnes live weight per year, 14 pork production complexes with a total capacity of 180,000 tonnes live weight per year, 6 meat processing plants with a total capacity of 158,000 tonnes per year, 6 fodder factories with a total capacity of nearly 1.4 million tonnes per year, grain storage facilities with an overall storage capacity exceeding 500,000 tonnes, and a land bank exceeding 100,000 hectares.
The group manufactured more than 0.5 million tonnes of meat products in 2013. The company's consolidated earnings in 2013 exceeded $1.6 billion.
Material provided by RBC News Service
Detailed information on the issuer: Cherkizovo Group
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