The Saudi Company for Agricultural Investment and Animal Production (Salik) increased its stake in the Brazilian company Minerva Foods from 25.5% to 33.83%.
According to the Saudi Press Agency, the company stated in a statement that Minerva Foods is one of the largest companies producing meat in South America and the second largest exporter in Brazil, as it produces more than One million tons of meat, as the company mainly meets the demand from foreign markets, as during the current year 2020 it exported 750 thousand tons of red meat to more than 100 countries around the world, indicating that its strategic partner, VDQ in Minerva Foods, supports this trend of investment It is an addition to the progress of its work and results.
Salik indicated that the Brazilian company Minerva Foods was founded in 1992 and operates 25 slaughtering factories in South America and 3 processing plants with revenues of 19 billion Rials during the 12 months ending in June 30, 2020 and is a public joint stock company since 2007 and listed on the Brazilian stock market.
It is noteworthy that the Kingdom consumes 550 thousand tons annually of red meat, the foreign import represents a rate of 70%, and Salik had started its operations in 2012 and is working in the field of investment Agricultural and animal production in countries that have comparative advantages to contribute to achieving the objectives of the Food Security Program through foreign investment, providing food products and working with relevant government agencies to stabilize food commodity prices in the Kingdom, and its strategic objectives are to ensure imports of a specific group of basic food commodities. p>
(Amazon fun knowledge)
