May 27, 2003
The formation of a new entity, Hypor LP was announced today in Regina. This merger combines the operations of Saskatchewan-based swine genetics company Genex Swine Group Inc. with Hypor, the swine genetics division of international food company Nutreco.
Nutreco Holding N.V. is an international public company based in Boxmeer, The Netherlands and listed on the Amsterdam Stock Exchange. Nutreco has a significant business world-wide in feed, breeding, production, processing, sales and marketing for fish, poultry and pig meat products. In Canada, Nutreco operates Hybrid Turkeys in Ontario, a primary turkey breeding company, as well as salmon feeding and farming operations on the east and west coast. Its web site is located at www.nutreco.com.
Hypor is the wholly owned breeding company of Nutreco, and employs about 100 people in Spain, Belgium, and The Netherlands. These are the primary markets of Hypor along with international positions in Japan, Poland, Philippines, Italy and Germany.
Genex Swine Group is a pig breeding company located in Regina and operates mainly in the Canadian market where it holds a greater than 20 per cent share. Genex has been in business since 1980 and has an excellent track record of producing genetically superior animals that are in demand. It is majority owned by Crown Investments Corporation (CIC) and performs well. The company's web site is at www.genexswinegroup.ca
"Joining with Hypor is tremendously strategic. The new entity will be a much stronger company that will be better able to compete globally and position itself as a world leader in swine genetics. Saskatchewan will be the headquarters for Hypor LP, making Saskatchewan a key player in the pig breeding stock business," CIC Minister Maynard Sonntag said.
The new entity will maintain the company's 100 jobs in Saskatchewan, and will result in overall employment of about 200 in at least six countries including Canada, the United States, Spain, Belgium, the Netherlands, and Poland.
"Through this combination, we have created a new company which now can boast of truly global reach and scale, and what will be a leading market position in the world," newly appointed President and former General Manager of Hybrid Turkeys David Libertini said. "With the Genex Swine Group customer base in Canada and the Hypor customer base in Europe and Asia, we now have significant market presence worldwide and are now, truly international."
The new entity will have a leading position in the pig breeding markets of Canada, Japan, Spain and Belgium and will have a stronghold for further expansion into the US, Latin America and Europe. As a result, customers worldwide will benefit from synergies in research, breeding lines and technical expertise.
Crown Investments Corporation (CIC) and Nutreco will be equal shareholders in the merged business. Nutreco and CIC combined gives the new organization market leadership, global reach and long term stability.
For More Information, Contact:
Crown Investments Corporation