Bachoco Talks About the Impact of Earthquake on its Table Eggs Facilities
CELAYA, Mexico, April 7 /PRNewswire-FirstCall/ -- Industrias Bachoco S.A.B. de C.V. ("Bachoco" or "the Company") (NYSE: IBA; BMV: Bachoco), Mexico's leading producer and processor of poultry products, announced today that its table eggs operation located in Mexicali, Baja California, was affected as a result of the earthquake that hit Mexico's northwest on April 4.
Cristobal Mondragon, Bachoco's Chief Executive Officer, stated: "First of all, we would like to inform that no employee was injured by the earthquake. The earthquake partially affected almost all of the farms located in this region. Other facilities, such as feed mill and distribution centers, were practically undamaged. The company is taking all necessary steps to reduce the negative effects and supply our customers from other production complexes. In addition, the company is evaluating the damages to its facilities and its production process to take the fastest alternatives and quickly recover the pace of our normal operations."
The Mexicali operation represents about 9% of the company's production capacity of table eggs.
Industrias Bachoco S.A.B. de C.V. is the largest poultry company in Mexico, with over 800 production and distribution facilities currently organized in nine complexes throughout the country. Bachoco's main business lines are chicken, eggs, swine and balanced feed. The Company's headquarters are based in Celaya, Guanajuato, located in Mexico's central region. Its securities are listed and traded on the BMV (Bachoco) and on the NYSE (IBA). For more information, please visit Bachoco's website at http://www.bachoco.com.mx or contact our IR department.
This press release contains certain forward-looking statements that are subject to a number of uncertainties, assumptions and risk factors that may influence its accuracy. Actual results may differ. Factors that could cause these projections to differ include, but are not limited to: supply and demand, industry competition, environmental risks, economic and financial market conditions in Mexico, and operating cost estimates. For more information regarding Bachoco and its outlook, please contact the Company's Investor Relations Department.
IR Contacts: Daniel Salazar, CFO Claudia Cabrera, IRO Ph. +52 (461) 618 3555 email@example.com In New York: Grayling Lucia Domville Ph. (646) 284 9416 Lucia.Domville@us.grayling.com
SOURCE Industrias Bachoco S.A.B. de C.V.