Feed, shrimp company JV to build new feed mill in Ecuador
American animal feed company Cargill has signed a joint venture deal with a shrimp farmer in Ecuador to build a USD 30 million (EUR 27.6 million) shrimp feed facility in that country.
The venture, between Cargill and shrimp producer Naturisa, will build the facility near Guayaquil, Ecuador. Once complete, it is expected to produce 130,000 metric tons of feed per year and employ 260 people.
"This joint venture with Naturisa positions us to become one of the largest producers of shrimp feed in Latin America," said Sarena Lin, president of Cargill's animal feed and nutrition business. "It creates new opportunities for both organizations' customers and stakeholders. Combining Cargill's vast resources and global reach with Naturisa's expertise will allow the new organization to provide the best solutions to our customers and ultimately support the growth of Ecuador."
Cargill, in a statement, said it will own 75 percent of the new facility, with Naturisa owning the remainder.
"Naturisa and Cargill share a commitment to high-quality products and services, sustainable, responsible business practices, and both organizations have strong visions for future growth and aspire to be leaders in the aquaculture industry, which makes this partnership an ideal fit," said Ricardo Sola, general manager of Naturisa.
Both companies expect the facility to be fully operational in 2017.