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New Canada hog plant to proceed but Olymel bows out

by 5m Editor
6 December 2006, at 11:50am

CANADA - Two out of three partners have dropped out of the planned C$200-million ($175 million) Olywest hog plant in Winnipeg, Manitoba, but remaining player Hytek Ltd. said on Tuesday it will pursue the project.

We are committed to this project and we will seek the necessary expertise we require to bring this project to conclusion," spokesman Guy Baudry told reporters at a news conference.

Among the other partners, Olymel LP, one of Canada's largest meat processors, will bow out of the project to focus on restructuring its Quebec-based operations, Chief Executive Rejean Nadeau said.

And Saskatchewan producer Big Sky Farms has left the project partly because of a recent moratorium on hog barn construction by the Manitoba government, a spokesman said.

Hytek, one of Canada's largest hog producers, may look for new partners as it moves forward on the plant, which is currently in the environmental licensing stage, Baudry said.

Source: Reuters

5m Editor