Marfig reopen five slaughterhouses
By reopening five factories and expanding production lines at four additional units, Marfrig expects to create 4500 jobs in total. Its huge increase in staff comes as the meat processor’s beef division scrambles to increase manpower in order to capitalise on a higher-than-expected supply of slaughter-ready cattle in Brazil.
Marfrig reported the news in its second-quarter financial results, posted on Tuesday 15 August, which showed the business, like many others, had been hit with currency volatility. The company said it faced a “challenging scenario in the Brazilian market” with a number of crises destabilising the meat industry , the economy and the government. But despite the headwind, Marfrig’s beef division will create thousands of jobs this year as its rival, JBS, reels from a political scandal that has forced a costly exit from all beef operations in Argentina, Paraguay and Uruguay.
Marfrig is comprised of two main units – its South American beef division and US-based Keystone Foods that is also present in the Asia-Pacific region. The Keystone division saw revenue rise by 4% to 697 million USD with sales up 2%. In May this year, it formally filed a request in the US to launch on the stock market.