Brazilian meat processor JBS has invested more than ten million dollars in a plant in Minas Gervais state to increase production of its Friboi brand.
The facility in question is located in the city of Ituiutaba and has received BRL45m (US$11.5m) in investment to raise Friboi production by 50%. Some BRL20m has already been channelled into infrastructure and equipment this year, with the project expected to create 700 jobs, according to a statement from the Sao Paulo-based firm.
JBS is ploughing funds into the site, which is authorised to export beef to the US, to meet increased demand from Europe, the Middle East, China and Chile, as well as its domestic customers.
Renato Costa, the president for Friboi, said: “The increase in the volume of the Ituiutaba plant production makes it even more strategic in meeting all our export certifications. In addition, new jobs will make us one of the leading business employers in the region, which is a source of great pride.”
It is the latest investment round announced by JBS in recent months after it revealed plans in May to put $95m into expanding production at a site in Grand Island, Nebraska, owned by its US subsidiary. On the acquisition front, the company snapped up local pork processor Adelle Food Industry in April.
Meanwhile, JBS is embarking on a project in the meat-free burger category, joining US heavyweights such as Beyond Meat, Tyson Foods, Perdue Farms and Hormel Foods. It has announced the launch of its plant-based Incrível Burger Seara Gourmet.
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