October 8, 2018 / 7:00 PM / 11 days ago

Brazil's JBS invests $12 mln in expansion, eyes China market

SAO PAULO, Oct 8 (Reuters) - JBS SA, the world’s largest meatpacker, is expanding production capacity at two of its Brazilian units as Chinese demand for its beef exports remain strong, the company said in a statement on Monday.

The plants, which received combined expansion investments of 45 million reais ($12 million), are located in the state of Minas Gerais, the statement said.

The investment aimed at doubling production capacity at the two units is mainly related to opportunities to export beef to the Chinese market out of Brazil, JBS said.

“When comparing exports (to China) this year with the same period of last, we had a 125 percent increase in volume,” Renato Costa, chief of the country’s JBS beef division, was quoted as saying in the statement referring to Brazilian exports of beef to China.

$1 = 3.7535 reais Reporting by Ana Mano Editing by Chizu Nomiyama

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