Cham Foods setting up Iowa egg venture
It has been reported that Champ Foods will invest US$30 mln in an Iowa poultry farm and egg products plant.
Champ Foods unit Primera is setting up a poultry and egg joint venture in Wright, Iowa, with a combined investment of $60 mln, with each party owning equal shares.
Cham Foods operates in Israel, Turkey, and the US. Its US activity is handled through Primera, a manufacturer of powdered eggs and egg products, which accounts for 66% of its revenue.
The joint venture, which will be managed by the Iowa Poultry Association, will reportedly have 4 mln chickens and an egg breaking factory that will produce the raw materials for the plant.
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