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Leading Brazilian meat producer Sadia is planning to invest $70 million in the construction of a meat plant in Russia
Leading Brazilian meat producer Sadia is planning to invest $70 million in the construction of a meat plant in Russia, a company official said Tuesday. The official said the company would establish a joint enterprise with Russian company Miratorg, a large meat wholesaler and exclusive distributor of Sadia's products on the Russian market. Sadia is initially planning to produce sausages and other meat products, and start production of frozen prefabricated meat products later. Sadia has been on the Russian market since 1998. The company doubled its net profits in 2005 to $320 million year on year, with gross sales of about $4 billion.
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