Russian meat giant Cherkizovo Group announced it will invest over 250 million rubles ($3.7 million) to upgrade Altaisky Broiler's production facilities.
Last December, the Group announced the acquisition of Altaisky Broiler for RUB 4.6 bn ($69 million).
Altaisky Broiler is also among the largest poultry producing companies in the Siberian Federal District, with a yearly output of 67 thousand tons (live weight) of poultry products (58 thousand tons of finished products). Altaisky Broiler has a hatchery, a feed mill, four fattening sites, a slaughterhouse, and a meat packing plant in Biysk. The Siberian company offers around 100 chilled and frozen poultry products.
The Group plans to use Altaisky Broiler as the foundation for its own distribution system in the Siberian Federal District. Cherkizovo sells under the Altaisky Broiler brand but will introduce other poultry brands, such as Petelinka, at the plant going forward.
"To produce premium brands, Altaisky Broiler will need to give a major upgrade to its biosafety system, to ensure its compliance with group-wide standards. The first stage will see some RUB 20 m worth of investments, with RUB 55 m and RUB 180 m to be spent on warehouse logistics and upgrading the cut up facilities, respectively," Cherkizovo's statement read.