POULTRY KEEPING MACHINERY MARKET ANALYSIS

Key Developments

• In February 2024, AGCO Corporation, a global leader in the design, manufacture, and distribution of agricultural machinery and precision technology, merged with another agricultural equipment provider to strengthen its market presence. This strategic merger is expected to enhance AGCO Corpration's product offerings and expand its reach in the competitive agricultural sector. By combining resources and expertise, AGCO Corporation aims to improve service delivery and innovation in agricultural solutions, ultimately benefiting farmers and agricultural businesses. This move aligns with AGCO Corporation's ongoing commitment to advancing agricultural technology and supporting sustainable farming practices worldwide.
• In June 2023, Vencomatic Group, a leading provider of innovative systems for poultry equipment, launched a new egg handling system aimed at improving efficiency in layer farms. This advanced system is designed to streamline the egg collection process, ensuring that eggs are handled gently and efficiently from the nest to packing. By incorporating state-of-the-art technology, the new system enhances operational workflows and reduces labor costs, ultimately benefiting poultry farmers. Vencomatic Group's commitment to developing sustainable and poultry-friendly products is reflected in this launch, which aims to support farmers in maximizing productivity while maintaining high standards of animal welfare.
• In January 2023, Tyson Foods, one of the world's largest food companies and a recognized leader in protein, expanded its poultry processing facility in U.S. to increase its production capacity. The US$ 180 million expansion project, which officially broke ground in August 2022, is expected to be completed by late 2024. The expansion will add seven new production lines and 270,000 square feet to the existing facility, allowing Tyson Foods to meet the growing demand for its Hillshire Farm and Jimmy Dean grab-n-go snacking and breakfast items. The project will create approximately 400 new jobs, bringing the total workforce at the Caseyville plant to 750 team members by September 2024.
• In July 2021, Marel Poultry, a leading global provider of food processing solutions, acquired a technology firm to enhance its processing solutions. This acquisition is part of Marel Poultry's strategy to innovate and improve efficiency in the poultry processing industry. By integrating advanced technologies from the acquired firm, Marel Poultry aims to offer more sophisticated processing solutions that can help poultry producers optimize their operations and increase productivity. This move reflects Marel's commitment to driving advancements in food processing technology, ensuring that it remains at the forefront of the industry and continues to meet the evolving needs of its customers worldwide.