Sharechat Logo

ProTen plans to expand chicken farming in New South Wales

Thursday 8th September 2016

Text too small?

ProTen, Australia’s largest independent contract grower of broiler chickens for meat, plans to develop more chicken sheds in Tamworth, New South Wales, increasing its total production to as much as 87 million chickens a year.

The Sydney-based company, whose shares trade on New Zealand's Unlisted market, plans to develop between 56 and 64 new chicken sheds in two stages, it said in a statement. It expects an initial 20 sheds will be built in late 2017 or early 2018 with the remaining 44 sheds constructed to coincide with the planned expansion of Baiada Poultry, Australia's biggest chicken processor, which ProTen supplies.

The project requires the consent of the NSW state government, which will ultimately determine the final number of sheds to be developed, ProTen said.

The chicken farmer has secured 1,200 hectares for the project and anticipates the farm could produce as much as 19 million chickens a year.

It will fund the project through its balance sheet.

ProTen shares last traded at $1.40 on Sept. 2, valuing the company at $160 million.

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report