Agriterra Sells Aviation Assets to Fund Animal Feed Expansion
Agriterra announced that is has sold its Beech King air F-90 plane to a South African registered aircraft retailer and has sold its Aerospatiale Alouette 3 helicopter along with its Robinson R44 helicopter to raise funds to support the purchase of animal feed pelleting equipment needed for its feed business expansion in Mozambique.
Founded in 2005 as a maize milling business, Agriterra grew to include cattle ranching, a feedlot, an abattoir, retailing, cocoa trading, and farming activities.
The pelletizer, which is being shipped in from South Africa will enable the group to process the bran by-product from its grain processing into animal feed for its own feedlot operation, but also to be sold to regional broiler, layer, beef and pig operations.
Initial capacity will be 2.5 tons per hour, however the company has the option to increase output to five tons per hour as it aims for eventual production time of 120 hours per week.