Alltech builds algae plant, expands Latin America production
New investment will increase Alltech's LatAm production by 58%
Alltech is constructing a Latin America algae production plant on the same premises as Alltech Sao Pedro. This US$63 million investment in Brazil will generate more than 200 direct and indirect jobs, and it will increase Alltech’s Latin America production by 58%, according to the company.
“The company’s experience with its first algae manufacturing plant in Kentucky has been a great success, and this is the reason for making the investment in Brazil,” said Dr. Mark Lyons, Alltech’s vice president for corporate affairs. “People are looking for something different, and algae are critical for conquering new markets. The future of nutrition lies in functional foods, and we are determined to meet the increasing global demand for DHA omega-3 on the farm and at the market.”
Alltech has also announced the expansion of its production capacity through the acquisition of a new 7,300mÂ² plant in Indaiatuba, SÃ£o Paulo State, Brazil. In the new facility, the company will specially manufacture nutritional solutions for beef and dairy cattle, in response to the increasing regional demand and to support the production capacity of the nine plants that Alltech currently has throughout Latin America, particularly Alltech’s plant in Araucaria, Brazil. At this latter facility, the company has recently doubled the production of one of its leading products, Optigen, Alltech’s non-protein nitrogen source for ruminants.
With this new acquisition, the company is planning to close 2014 with a sales growth of around 27% in Latin America.