The Antimonopoly Committee (AMCU) has allowed MHP, one of the largest poultry producers of (Kyiv), to create a joint venture with Desert Hills Veterinary Services Company Limited (DHV) (Saudi Arabia) in the city of Riyadh (Saudi Arabia).
This is stated in the decision of the AMCU, Ukrainian News Agency reports.
On September 7, 2023, MHP disclosed that it had signed an agreement with Tanmiah Food Company subsidiary DHV to form a joint venture.
"This partnership suggests that DHV and MCP will join forces to invest more than SAR 200 million (about USD 53 million) in agricultural activities with more than 1 million parental stock, which is expected to produce about 175 million incubation eggs per year, a modern incubator and a poultry feed plant," the company said.
At the same time, DHV will own 55% of the shares, and MHP - 45% of the shares of the joint venture.
Tanmiah Food Company was founded in 1962 and is one of the leading suppliers of fresh poultry, meat semi-finished products and other meat processing products, as well as animal feed and health products in the Middle East.
As of June 30, 2023, Tanmiah operated 114 farms as well as 6 incubators, 2 feed mills, and 4 primary processing plants (slaughterhouses).
As Ukrainian News Agency earlier reported, for 9 months of 2023, MHP increased the sale of poultry meat by 13% to 535,200 tons.
Also in the 9 months of 2023, MHP made a profit of USD 122 million.
On February 2, 2021, the Myronivskyi Khliboprodukt company officially changed its legal name to MHP.
MHP is a vertically integrated complex of enterprises for the production of chicken, hatching eggs, and fodder.
The founder of the company is Yurii Kosiuk.
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