Winnipeg Free Press - PRINT EDITION
Beef plant open to more farmers, investors
THE two players behind a proposed new beef processing plant in St. Boniface have formed a new company to own and operate the facility -- a move aimed at opening up the project to more farmers and investors.Farmer-owned Natural Prairie Beef Inc. and the Manitoba Cattle Enhancement Council announced the formation of Keystone Processors Ltd. on Thursday.
Last summer, the two partners announced they would refurbish the former Maple Leaf pork plant into a beef processing -- and, eventually, a slaughter -- facility over the next couple of years at a cost of about $25 million. The plant is expected to kill and process 250 head of cattle a day by sometime in 2010. It is designed to handle double that.
The two partners announced Thursday they expect to welcome new investors as the plant begins operations early next year.
"This new flexible corporate structure is best for all parties because it envisions multiple companies investing in and utilizing this new beef plant for the benefit of all Manitoba beef producers," said Corry Berndsen, Keystone's vice-president of operations.
"We're building one of the most advanced beef plants in Canada and our business model will help us maximize its earnings in a highly competitive industry," he said.
The St. Boniface plant will also process more than so-called 'natural' beef -- meat from animals raised free of antibiotics and growth hormones, the partners said Thursday. That is the specialty of Natural Prairie Beef, a Manitoba company owned by beef producers.
"The new corporate structure positions the plant to accept investment and cattle for all Manitoba producers, whether they're raising natural, organic or conventional cattle," said Kate Butler, executive director of the cattle enhancement council, which has invested $2.4 million in the venture.
Initially, the facility will be provincially inspected and licensed, meaning its products can only be marketed within Manitoba.
larry.kusch@freepress.mb.ca
Republished from the Winnipeg Free Press print edition December 5, 2008 B5
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