Fusión de Industrias Veganas y MercaSID crea INDUVECA, S. A. (Merger of Industrias Veganas and MercaSID creates INDUVECA, S. A.)

THE MERGER ALLOWS FOR A MORE COMPETITIVE POSITION. PRODUCTION: INDUVECA ANNUALLY PRODUCES 80 MILLION POUNDS OF MEAT PRODUCTS WHICH IS EQUIVALENT TO THE CONSUMPTION OF 10 POUNDS A YEAR PER PERSON.

Industrias Veganas and MercaSID establishes a strategic alliance through which the new company now to be known as INDUVECA, S.A. is born. With the participation of both business groups the continued expansion of the product line of the best selling cold meats is thus reinforced.

The reorganization which led to the creation of INDUVECA contributes in strengthening the national food industry, both companies expressed in a press release. The industry produces 80 million pounds of meat products annually, but has an installed capability of producing four times this current volume. The actual production of the company is equivalent to 10 pounds a year for every Dominican.

The merger agreement was signed by Tony Rivera and Janet Rivera, president and vice-president of Industrias Veganas and by José Miguel Bonetti and Roberto Bonetti, president y vice-president of MercaSID.

A document from both companies expresses that MercaSID as well as Industrias Veganas are leading national companies in their markets, and that together their will be able to offer an even more competitive position. The indicate that Industrias Veganas, whose main brand name is INDUVECA, "is a business group with several production activities in the agricultural and livestock business and the leader in the production and distribution of meat products in the entire country".

While MercaSID has become the leading industry in the production and commercialization of cooking oils, vegetable fats and cereals, as well as in the distribution of important international product lines.

According to the document, INDUVECA, S.A. "will continue to supply the market with its renown spirit of innovation and continuous quality, while at the same time advancing in their constant path in search of new ways to serve their clients".

The companies.

Industrias Veganas was founded byr Pedro Antonio Rivera Abreu in 1968, and according to its executives, excelled at vertical integration and leadership in their markets. It is comprised of three areas of business: agriculture, technology and processing of food products and distribution.

The company generates approximately 1,800 direct jobs and thousands more through their suppliers. In addition, in its agricultural activities they excel in the raising highly genetic pigs and cattle, as well as innumerable farms with animal production and food production integrated by technology.

In addition, they have eight strategically place distribution centers which help strengthen their product lines, which reach consumers through properly refrigerated units which on average visit clients 50,000 times a week in the entire country, the press release states.

It also indicates, that the industry, located in La Vega, "produces the cold meat products and cuts of meat with the highest demand in the country, with original raw materials at 90 percent".

While MercaSID was created in 1999 as the result of the merger between two Dominican companies, leaders in the production and marketing of cooking oils and fats, known as Sociedad Industrial Dominicana (SID), founded in 1937 and Mercalia, established in 1941. Both companies were pioneers in the Dominican market in the production of cooking oils of vegetable origin.

"MercaSID, as a leading business, assumes the responsibility of innovating and offering excellent quality goods to the Dominican market through their brand names and the continuous launching of new products of their local production as well as international diverse products", the release stated.