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Company formed to run new beef plant
A new company has been formed to own and operate the beef processing plant being established on the old Maple Leaf pork plant site on Marion Street.
Winnipeg’s new player in the beef business will be known as Keystone Processors Ltd., its founding partners announced this morning.
Last summer, farmer-owned Natural Prairie Beef Inc. and the Manitoba Cattle Enhancement Council announced they would refurbish the former pork plant into a beef processing — and, eventually, a slaughter — facility over the next couple of years.
The two partners announced today that they will be the first shareholders in the company, and they expect to welcome new investors as the plant begins operations in the new year.
Initially, the facility will be provincially inspected and licensed, meaning its products can only be marketed within Manitoba. It will begin by subcontracting the slaughter of cattle to other facilities, restricting its operations to processing sides of beef for local customers.
Meanwhile, Keystone said it will continue to upgrade and renovate the plant so that it can earn a federal licence to slaughter and process cattle. That will allow it to supply large supermarket chains and market its products outside of Canada, the company said.
"We expect the plant will be able to earn its federal licence by 2010, at which point we’ll push it into new premium, niche export markets in addition to the Manitoba market," said Corry Berndsen, vice-president of operations for Keystone.
"This phased-in approach allows us to start accepting Manitoba cattle and begin marketing our products in the short term while positioning our company for growth in the future," he said in a news release.
The Manitoba Cattle Enhancement Council, formed in 2006, has invested $2.4 million in the venture. The MCEC is funded by a $2-per-head checkoff on the sale of Manitoba cattle. The provincial government has agreed to match the producer levy for three years.
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