LONDON--Hilton Food Group PLC (HFG.LN) Tuesday announced that
Woolworths Limited (WOW.AU) is to proceed with plans to construct a
new meat processing facility in Victoria, Australia.
MAIN FACTS:
-Development is subject to government approvals and the
negotiation and finalization of construction and tenure
agreements
-It is proposed that Hilton's joint venture company in
Australia, Woolworths Meat Co. Pty Ltd operates and manages the new
facility, with a current target for the commencement of production
of 2015
-Woolworths Meat Co. is 50% owned by a Hilton subsidiary, Hilton
Foods Asia Pacific Limited, and 50% owned by Woolworths Limited,
Australia's largest retailer
-Shares at 0730 GMT up 0.9% at 430.0 pence valuing the company
at GBP305 million.
Write to Jana Weigand at jana.weigand@wsj.com
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