Notice to the Market - Expand Iowa Premium Facility
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São Paulo, March 17, 2021 - Marfrig Global Foods S.A. (“Marfrig” or “Company” – B3: MRFG3 and Level 1 ADR: MRRTY), one of the world’s leading beef producers and the world’s largest producer of beef patties, hereby informs its shareholders and the market that it our subsidiary National Beef Packing Company, LLC, a leading beef processor in Iowa, announced today plans to increase its current capacity from 1,100 heads / day to 2,500 heads / day at its Iowa Premium slaughtering facility located in Tama, Iowa, through an investment of around $ 100 million, and making it possible to add another production shift. The total investment will be accomplished in the next two years and is in line with the Company's capex policy for organic growth. This project, will more than double the capacity of the plant and will increase the capacity of the company to produce premium products that are in high demand by the customers worldwide and will provide an expanded market for the Iowa family farmers who supply the plant with Angus cattle. The project is expected to be completed in late 2022 and will bring several hundred additional jobs to the region.
Tang David
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