Cargill Inc. said Wednesday it has partnered with Teys Bros. to form an Australian beef processing company.
The move solidifies Teys’ position as the second-largest beef processor in Australia, Wayata-based Cargill said in a news release.
The new company, called "Teys Australia — a Cargill Joint Venture,” is equally owned by both companies with equal board representation.
Allan Teys will be chairman, and Brad Teys will serve as CEO of the new company. The company will be headquartered in Beenleigh, Queensland.
The joint venture will have the capacity to process 1.5 million head of cattle per year.
”We are committed to providing growth and opportunity for Australian cattle producers through vigorous focus on efficiency and improved domestic and export opportunities,” Brad Teys said in a statement. “The combination of Teys and Cargill brings together our combined strengths to provide the best support for Australian cattle producers.”