Despite the contraction in the local economy, Jamaican conglomerate Jamaica Broilers Group (JBG) is being bullish about its growth prospects for the future committing some $800 million thus far in expansion initiatives.
In addition to these expansion initiatives, the mainly agricultural-based company with subsidiaries in the Caribbean and the United States is set to announce some multimillion-dollar pipeline projects in March/April. The Business Observer understands that JBG has committed some US$3.2 million or approximately J$448 million to expand its loading bay.
While no details have been given about this projected, it is expected to take about six months to be built out and would result in more efficiency in operations paying back for itself overtime.
With regards to its chicken processing facility, JBG is said to be investing US$2.5 million or approximately J$350 million in “evisceration upgrade “, where cutting-edge technology will be used to clean and process chicken meat.
NEW INVESTMENTS COMPLEMENT PREVIOUS UPGRADES TO PROCESSING PLANT
This new investment in its chicken procession facility will complement those investments made last year. These include the installation of an automated debone machine, which has significantly improved the speed, efficiency and consistency of the debone process.
This is in addition to a new fryer for the company’s chicken nuggets’ line which has increased capacity in this area. This has become important as our Best Dressed Chicken nuggets are now distributed islandwide in the company’s easy-to-use resealable packs.
In addition to these upgrades, substantial investments were made towards adding cutting-edge equipment in specific areas, as JBG continued to improve its processing facilities through investments made towards upgrading the existing infrastructure on site. These upgrades have resulted improvements that have allowed the company to better manage its product runs, which further contributed to enhancements in its distribution systems.
TECHNOLOGY-RELATED PROJECTS BROUGHT FORWARD
The JBG management disclosed at its annual general meeting on Wednesday last, that it has brought forward to the current financial year all technology-related project timelines. This has been done in order to ensure swift implementation, troubleshooting and efficiency in this key area.
The management, in its 2020 annual report, emphasised that “technology has and will continue to take on increased significance across the group.” Pointing out that the JBG having been in operation for over 60 years has weathered many storms, the management referred to some of the challenges encountered last year as a result of the novel coronavirus pandemic.
However, the company has withstood those challenges, which have brought to the fore the strength and agility of the group, pointing out that acquisitions in the United States have been a key growth strategy, which is now evolving into one of growth through expansion.