CELAYA, Mexico, April 16 /PRNewswire-FirstCall/ -- Industrias Bachoco S.A.B. de C.V. ("Bachoco" or "the Company") (NYSE: IBA; BMV: Bachoco), Mexico's leading producer and processor of poultry products, announced today that on April 13th part of the lending processing plant that Bachoco operates in Monterrey, N.L., located in Northern Mexico, caught fire.
Cristobal Mondragon, Bachoco's Chief Executive Officer stated, "First of all, I want to inform that no one was injured during the fire, and practically no products were affected.
"The fire consumed the secondary process of the processing plant, while the primary process, which is physically separated, suffered no damage and is operating nearly under normal conditions.
"Several actions have taken place to guarantee the supply coming from this plant, mainly by adjusting the product mix at other of our complexes and redirecting the product of the primary process to other markets.
"Finally, we are in the process of evaluating the damage to the equipment to learn how much time it will take to replace lost capacity. As expected, all damaged assets were properly covered by insurance," concluded Mr. Mondragon.
Company Description
Industrias Bachoco S.A.B. de C.V. (also referred to in this report as Bachoco or the Company) was founded by the Robinson Bours family in 1952. The Company is the largest poultry company in Mexico, with over 700 production and distribution facilities currently organized in nine complexes throughout the country. Bachoco's main business lines are chicken, eggs, swine and turkey, the Company is also an important player in the balanced feed industry in Mexico. The Company's headquarters are based in Celaya, Guanajuato, located in Mexico's central region.
Industrias Bachoco made an initial public stock offering in September 1997. Its securities are listed and traded on the BMV (Bachoco B) and on the NYSE (IBA).
For more information, please visit Bachoco's website at http://www.bachoco.com.mx/ or contact our IR department.
This press release contains certain forward-looking statements that are subject to a number of uncertainties, assumptions and risk factors that may influence its accuracy. Actual results may differ. Factors that could cause these projections to differ, include, but are not limited to: supply and demand, industry competition, environmental risks, economic and financial market conditions in Mexico and operating cost estimates. For more information regarding Bachoco and its outlook, please contact the Company's Investor Relations Department.
IR Contacts:
Daniel Salazar, CFO
Claudia Cabrera, IRO
Ph. 011 52 (461) 618 35 55
inversionistas@bachoco.net
In New York:
Lucia Domville
The Global Consulting Group
Ph. (646) 284-9416
Idomville@hfgcg.com
Headquarters:
Industrias Bachoco, S.A.B. de C.V.
Av. Tecnologico 401, Celaya, Gto.
Mexico 38010
http://www.bachoco.com.mx/
Industrias Bachoco S.A.B. de C.V.
