Meat Company News
Cooperativa Central Aurora Alimentos partnered with Sebrae/SC and Sebrae Resonare Engenharia e Meio Ambiente to conduct a year-long survey of 34 rural properties and cooperatives affiliated with Aurora Coop in Brazil. The aim of the survey was to understand the dynamics of greenhouse gas emissions and removals in agricultural activities and diagnose rural properties in relation to these emissions. The survey had six stages and involved producers with swine farming activities, dairy cattle, agriculture, and poultry farming.
Bell & Evans
According to Scott Sechler, the proprietor of Bell & Evans, a chicken business located in Fredericksburg, Pennsylvania is an ideal location for expansion in the poultry sector. Sechler plans to acquire more chicken houses and has already bought land for a second hatchery and an extra processing plant.
Agroindustrial cooperative Copacol, based in western Paraná, is set to celebrate its 60th year in 2023. The cooperative was founded on October 23, 1963, with the union of 32 farmers and has since aimed to generate rural development and better living conditions for families in the region. Copacol’s CEO, Valter Pitol, announced during its Ordinary General Meeting that the cooperative had overcome many challenges and grown throughout its history.
Dawn Meats, a meat processor from Ireland, has announced an agreement to acquire Kildare Chilling Company, subject to approval from Ireland’s Competition and Consumer Protection Commission. The deal is set to further consolidate Ireland’s meatpacking industry.
Following a decline in sales for three consecutive quarters, Maple Leaf Foods in Canada initiated a review of its animal-free protein operations in late 2021 and found that customer demand did not meet their expectations and assumptions.
Brazilian company Marfrig, has migrated its physical and logical assets from an old data center in São Paulo to a new facility in Santana de Parnaíba. The process was complex and required a partner with expertise in the field. Black Box was responsible for the entire project, including surveying, mapping, planning, and executing the migration without any interruption to Marfrig’s operations. The migration and replacement of equipment reduced the number of racks from 19 to 8, improving operational efficiency and data speed. Marfrig’s systems store and process essential information for the company’s 12 units, four distribution centers, commercial and corporate offices, and around 18,000 employees.
Tanmiah Food Company has signed a Memorandum of Understanding with MHP to establish a joint venture aimed at developing and operating poultry breeding facilities in Saudi Arabia. The joint venture will focus on closing the existing production gap in the country’s domestic poultry sector, and it includes the establishment of a greenfield hatchery to hatch 108 million hatching eggs per annum and feed milling facilities with a target production of 137 thousand tonnes of feed per annum. The initiative is in line with the food security goals of Saudi Vision 2030 and is supported by the Saudi Arabian government.
A fire that broke out at an Olymel finishing barn in Sturgis, Saskatchewan on February 12 resulted in the death of approximately 10,000 pigs. The barn, known as the “Kopje barn,” was completely destroyed in the fire, and all the pigs housed in the barn were killed. The staff present on the property at the time of the fire were unharmed.
The Northern Ireland Manufacturing 100, which showcases the best manufacturing businesses of the past year, has been released. The list is sponsored by Deloitte and MCS Group and highlights the highest-performing manufacturing and engineering companies in Northern Ireland based on their turnover. Moy Park, a poultry producer, secured the top spot.
The escalating cost of doing business in California has driven Smithfield Foods to close their Farmer John processing plant in Vernon, California, this month.
Over the past year, Tyson Foods has experienced a significant decline in stock price, down nearly 40% since last February due to steep inflation and slumping demand in the meat industry. The company’s most recent earnings fell short of estimates and from the same period a year earlier, causing concern among investors. However, despite this rough patch, some investors see an opportunity to buy low while others are fearful. As the foreseeable future looks much brighter, some believe Tyson Foods is a good investment at this time.
Van Drie Group
VARO Energy Group is set to purchase 80% of the shares of Bio Energy Coevorden BV (BEC), one of the largest biogas manufacturers in Europe, in a deal that will be completed in February. The acquisition will increase the capacity of the facility from 300 GWh to 650 GWh by 2026, making it one of the top three largest biogas facilities in Europe. STAK Grisbe, the current shareholder, will maintain 15% ownership, while Van Drie Group will retain 5%.
Top Listed Seafood Company Performance
Seafood Company News
Kyodo Senpaku Kaisha
Kyodo Senpaku Kaisha Ltd., the only whaling operator in the world that uses the mother ship method, is building a new vessel in Japan to replace its aging mother ship, Nisshin Maru. The new vessel is capable of sailing as far as the Antarctic Ocean, can travel 13,000 kilometers and has the latest equipment, including container-type cold storage facilities and a deck for drones to search for whales. The construction cost is approximately ¥6 billion, and the ship is scheduled to be completed in March 2024. The city of Shimonoseki will provide ¥300 million in subsidies to Kyodo Senpaku to support the construction, aiming to become a home port for a fleet of vessels to be led by the new mother ship.
Mowi, the salmon farmer, has reported that the contract market issues are no longer affecting its business after the contract market was plunged into turmoil by the Norwegian government’s plans for a new tax regime for aquaculture last year. The company’s CEO confirmed that the Q1 2023 contract share is anticipated to remain at 31%, the same as in Q4 2022, and that the contract market turmoil does not affect the company’s operations.
Mowi has expressed concerns over a planned 40% resource tax in Norway, warning of lower investment, job cuts, and higher salmon prices worldwide. The Norwegian government plans to impose tax rises on the aquaculture and power industries, with a 40% resource levy for fish farmers in addition to a 22% corporation tax. Mowi’s CEO called the tax “anti-business” and warned that it would impact the industry’s growth prospects, with Mowi putting about €400mn in capital investments for 2023 and 2024 on hold and estimating the figure for the Norwegian aquaculture industry as a whole at €5bn.
The pet food division of Thai Union Group, is planning to build a new factory after a 47.4% sales increase to THB 21.4 billion ($623.9 million) in 2022. The boost in sales was due to growing demand for pet food in the US, Europe, and Asia, along with higher selling prices.
Top 10 Listed Logistics Companies
Logistics Company News
Americold Realty Trust Inc reported profits of 1 cent per share in the fourth quarter, which is lower than the anticipated 4 cents per share by analysts. The company’s revenue of $721.5 million also missed the estimated $767 million. However, the reported profits are 4 cents higher than the same quarter last year when the company reported -3 cents per share. The consensus recommendation for the company is “Hold”, with no change in the number of estimates. Americold Realty Trust Inc has reported an increase in revenue from $554.16 million to $721.5 million in the same quarter last year.
DB Schenker & MSC
Freight forwarder DB Schenker and shipping company MSC Mediterranean Shipping have agreed to a biofuel purchase agreement that is aimed at reducing supply chain emissions through carbon-insetting. DB Schenker will use 12,000 metric tons of biofuel for its own consolidated cargo, less-than-container load (LCL), full-container-load (FCL) and refrigerated containers (reefer containers), which is enough to save an additional 35,000 metric tons of CO2 equivalents (CO2e) along the entire production chain. The biofuel component will be blended between 20% and 30% with standard bunker fuel, resulting in approximately 50,000 mt of blended biofuel to be used in MSC ships.
A.P. Moller – Maersk and Saudi Ports Authority “Mawani” have broken ground on Saudi Arabia’s largest Integrated Logistics Park at Jeddah Islamic Port. The $346m project, which spans 225,000 sq. m., will offer warehousing and distribution, cold storage, e-commerce, and transhipment services, while also focusing on decarbonizing logistics with renewable energy. The facility will be powered by solar energy and trucks used for transportation at the park will be fully electric vehicles. The project is expected to create over 2,500 direct and indirect jobs in Saudi Arabia.
Orient Overseas Container Line (OOCL) has added the first of six 24,188 TEU mega container vessels to its fleet. The new vessel, named OOCL Spain, is among the largest container ships in the world and has been awarded three “Smart Ship” notations by the American Bureau of Shipping for its use of the latest intelligent technology. The vessel’s operations will be optimized for fuel efficiency improvements, structural health monitoring, and long-term navigational safety. OOCL Spain is the first newbuilding received by OOCL since it joined the COSCO SHIPPING Group and will join OOCL’s Asia-Europe service LL3 from March.