Meat + Poultry - March 2016 - 13

BUSINESS NOTES

PILGRIM'S ANNOUNCES
$190M EXPANSION PLAN
Pilgrim's Pride Corp. announced a capital expenditure of
$190 million that will target feed production, fresh chicken
and prepared foods. The company said the strategic
spending will enhance growth with key customers and
expand production of its Pierce Chicken brand.
The project budget includes:
x An $18 million investment at a case-ready plant to
streamline deboning and packaging processes;
x A $25 million investment at the Moorefield, West
Virginia, prepared foods facility to enhance existing fully
cooked chicken lines and add an additional line to meet
demands for the company's Pierce Chicken brand;
x A $35 million investment to acquire property and build
a new feed mill in Nashville, Arkansas, to lower feed
costs, enhance feed conversion and improve live poultry
performance; and
x A $20 million upgrade at the Pilgrim's Mayfield,
Kentucky, poultry complex to improve its value-added
product mix. The project will result in the addition of
approximately 150 new jobs in 2016. Pilgrim's currently
employs approximately 39,000 individuals.
Investments within the plan
are not limited to the projects
highlighted by Pilgrim's. The
company said the total $190
million cash flow reinvestment
represents an amount greater
than the company's depreciation
allowance, which demonstrates
Pilgrim's willingness to invest in
the company's future success.

da America SA and CFO of companies that received
investments from the GP Investimentos Fund.
Colaco joins JBS from Morgan Stanley where he was
a managing director in the firm's investment banking
division. Colaco spent nine years at Morgan Stanley
where he advised clients in the global retail and consumer
segments. He also has worked extensively with JBS, the
company said.
"The strengthening of the regional platforms, the global
structure and the establishment of a functional management
office in New York are in line with our mission, strategy
and also the internationalization of our business over
the last number of years," Wesley Batista, global CEO of
JBS, said in a news release. "These are important steps
in the consolidation of best practices and in the global
development of our businesses and our brands."
The JBS global leadership team now includes Batista;
Tarek Farahat, president of Marketing and Innovation,
Gilberto Tomazoni, president of Operations; Vincent
Trius, president of New Projects and Colaco as director of
Strategy & Corporate Development. The company's North
America, Europe and Asia-Pacific platforms will continue
to be led by their existing management, JBS said.

JBS ANNOUNCES
REORGANIZATION
JBS SA, the world's largest meat
processor, named Eneas Pestana
president of the company's South
America region while Russ Colaco
will lead the company's Strategy &
Corporate Development unit.
Pestana will oversee all
operations for JBS in South
America. He brings to the role
significant experience in the
Brazilian market through his
leadership of large companies in
the retail and consumer segments,
JBS said. Pestana was CEO of
the Pão de Açucar Group, vice
president of DASA - Diagnóstios
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