CELAYA, Mexico, July 29 /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, today announced a
series of measures to improve its productivity and efficiency in the Northeast
production complex headquartered in Monterrey, N.L. Among the initiatives
implemented are the:
-- Acquisition of a balanced feed mill and a soybean processor plant from
"Productora de Alimentos Pecuarios de Nuevo Leon, S.A. de C.V.", through our
Subsidiary "Campi", to improve the quality and production capacity of balanced
feed. The mill's production capacity is about 3,000 tons of pellet feed per
-- Acquisition of a chicken processing plant from "Avi Carnes Monterrey,
S.A. de C.V." with a production capacity of 9,000 chickens per hour, through
our subsidiary "Bachoco". The goal of this acquisition, other than reducing
production costs, is to replace the Monterrey processing plant that caught
fire last year as well as increasing production capacity and diversifying the
chicken business in that region.
-- An agreement was reached to rent breeder farms and egg incubation
plants from "Reproductoras Asociadas, S.A. de C.V." and one-day-old breeder
capacity farms and egg incubation plants from "Produccion Avicola
Especializada, S.A. de C.V."
-- Finally, to take advantage of the production capacity of the processing
plant acquired, the Company also acquired their inventories and looks forward
to obtain live chicken from several local producers through a contract growers
Cristobal Mondragon, Bachoco's CEO, stated, "Even when these arrangements
made with several producers in the region have been gradually emerging, we
have finally now completed them, allowing us to complement various production
lines of our business, improve our efficiency and further diversify our
business lines. A new phase has begun for this complex starting July 28,
2009," concluded Mr. Mondragon.
Industrias Bachoco S.A.B. de C.V. is the largest poultry company in
Mexico, with over 700 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
is based in Celaya, Guanajuato, located in Mexico's central region. Its
securities are listed and traded on the BMV (Bachoco B) 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.
Daniel Salazar, CFO
Claudia Cabrera, IRO
Ph. +52(461) 618 3555
In New York:
Ph. (646) 284 9416
Industrias Bachoco, S.A.B. de C.V.
Av. Tecnologico 401, Celaya, Gto.
SOURCE Industrias Bachoco S.A.B. de C.V.