Russian meat producer to expand with $685 million poultry complex

Russian meat producer Cherkizovo has announced its expansion with a $685 million poultry complex, in Yelets in the central Russian Lipetsk region.
The complex will have broiler sites with 10 million poultry places, parent stock and reproduction flock sites for 900,000 heads and slaughtering and processing facilities, according to the company. It will also include facilities to produce 512,000 metric tons of poultry feed per year and to store up to 50,000 metric tons of frozen products.
The complex is expected to be built in 2013 and to reach full capacity by 2015. Of the total investment, 80% were provided by Gazprombank, a former banking unit of Russian energy giant Gazprom, as a 10-year loan, said Cherkizovo.

Sanderson Farms to offer 2 million shares of common stock

Poultry processor Sanderson Farms plans to offer 2 million shares of common stock to help finance the construction of its new poultry complex in Kinston, N.C., and a potential new large-bird complex near Goldsboro, N.C. The proceeds could also be used to reduce debt, to invest in cash and cash equivalents, for general corporate purposes and as working capital.
Sanderson Farms said in a press release that it intends to grant underwriters a 30-day option to purchase up to an additional 300,000 shares of common stock. Morgan Stanley and J.P. Morgan are the joint bookrunning managers of the offering, and BMO Capital Markets and Stephens Inc. are co-managers.
Sanderson Farms has not announced pricing. It has filed a prospectus supplement relating to the offering with the Securities and Exchange Commission.

Pas Reform designs hatchery for Siberian poultry firm

Dutch hatchery technology company Pas Reform has designed a hatchery at ZAO Prioskoljie's new poultry complex in Altaiskiy, Siberia.
The new unit incorporates Pas Reform's latest SmartSet setters, SmartHatch hatchers, hatchery automation and climate control systems, and advanced hatchery management and information software systems.

Sanderson Farms to proceed with NC poultry complex

Sanderson Farms announced plans to proceed with its Kinston, N.C., poultry complex.
The company planned to invest $126.5 million for construction of a new feed mill, poultry processing plant and hatchery at separate sites in North Carolina in April 2008, but it was postponed due to market conditions and increasing grain prices.
The facility will reportedly have a poultry complex, which will employ 1,500 people, require 130 contract growers, and will be equipped to process and sell 6.7 million pounds of dressed poultry meat per week.
Construction, now billed at $121.4 million, is expected to begin later this summer, with initial operation scheduled to begin during the first quarter of fiscal 2011.