Meatco Acquires Stake in UK Firm

MEATCO, the country’s leading beef producer, has acquired a 25% shareholding in Global Protein Solutions (GPS), a UK-based meat trading company.

GPS is a protein marketing and trading company, with its head office in London.

Meatco said in a statement yesterday that GPS possesses unique and specialised skills in terms of marketing a wide range of protein products on a global scale.

“Meatco entered into a Service Level Agreement with GPS in 2008 to complement Meatco UK’s core team. GPS brought a group of expert global traders specialising in supply chain infrastructure, market development knowledge and global sales and marketing experience to the group,” the statement said.

Since signing the agreement in 2008, GPS has assisted Meatco in the development of new products, specifications and production efficiencies, EU ethical, global industry dynamics, marketing, administration and sales.

“They have helped the corporation move from a production-led, commodity-based marketing approach to a market-led, niche supplier of high value, differentiated products. This has seen returns from international markets increase substantially,” the statement said.

The purchase of 25% shares in GPS is part of Meatco’s overall strategy to further integrate into the entire value chain to increase cost efficiencies across the business, Meatco said.

GPS operates on a global scale and this not only provides Meatco guaranteed access to these trading and marketing skills, but will also result in additional cash inflows into the corporation from activities outside our borders.

“The purchase of shares in GPS is the beginning of a new era for Meatco,” said Meatco chief executive officer Vekuii Rukoro. “It makes it possible for us to access earnings from the trade of other sources of protein internationally, while giving us improved security over critical resources we need to ensure continuous growth for the future.”

Source : The Namibian