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Minerva may increase its position in Brazil with a slaughter plant in Minas Gerais


Minerva may increase its position in Brazil with a slaughter plant in Minas Gerais

Barretos, January 4, 2010 − Minerva S.A. (BOVESPA: BEEF3; Bloomberg: BEEF3.BZ; Reuters: BEEF3.SA), one of the leaders in Brazil in the production and sale of fresh beef, leather and live cattle, announces to shareholders and the market the execution of a sale agreement for the acquisition of a cattle slaughter plant in Campina Verde, a city located in the Triângulo Mineiro region in western Minas Gerais state.

The acquisition of the asset, which has slaughter capacity of 700 head/day and deboning, represents an increase of ten percent (10%) in Minervaís total installed capacity and will further strengthen the companyís positioning in the beef protein sector. The unit is approved to sell products in both the domestic and foreign markets.

Total investment in the acquisition and expansion plans is estimated at R$ 46 million and will be supported by a financing line of over 10 years, with the project also qualifying for financing lines from development agencies. We believe the new plantís operating cash generation is in line with Minervaís consolidated figure and will help the company to improve itís level of indebtedness.

The acquisition will increase the geographical diversification of the companyís plants, representing the launch of operations in Minas Gerais state by Minerva, which has one of Brazilís largest cattle herds (estimated at 22.4 million head).

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Contact IR

Phone : +55 (11) 3074-2444
E-mail: ri@minerva.com.br

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