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| NEWS RELEASES - 2004 |
| Agricultural Adaptation Council
provides $2 million loan - October 28, 2004 |
Guelph, ON – Gencor Foods Inc, a subsidiary of the farmer-owned co-operative
Gencor, The Genetic Corporation received a $2 million loan from Agriculture and
Agri-Food Canada through Agricultural Adaptation Council’s (AAC) CanAdapt
program. This loan will assist Gencor Foods with their plan to build a fully
integrated, federally inspected, consumer driven, beef processing company.
Announcing the funding at a recent sod turning event at Gencor Foods, AAC Chair,
Bob Bedggood said, “the AAC supports Ontario businesses and producers that are
willing to innovate and adapt. By addressing one of the AAC’s priorities -
capturing market opportunities - this project will provide the necessary
capacity to process cull cows in Ontario today and in the future.”
Gencor Foods Inc. was formed as a producer owned cattle slaughter and primary
food processor in December 2003. The company is a federally inspected
establishment under the Canadian Food Inspection Agency inspection program. It
is the company’s intention to offer services for all livestock producers.
“Gencor and its predecessor companies have a long history of providing
leadership in helping farmers make advancements in production agriculture,” says
Gencor President, John Hazeleger. “Gencor purchased the former MGI facility in
Kitchener (now Gencor Foods Inc.) for two reasons: to provide an Ontario
solution to the cull cow crisis resulting from export bans, and to establish an
integrated link in the meat industry from the farm gate to the consumer's
plate.”
Currently there are 18,000 cow calf operations and 5,530 milk producers in
Ontario. Once the plant reaches full production capacity, Ontario producers will
then have another option to market their cull cows. The value of Ontario cull
cows will increase once the plant becomes fully operational thereby increasing
the net income of livestock producers. The improved profitability of producers
will in turn help industry suppliers that are negatively affected by reduced
farm income.
The AAC is a non-profit corporation that is a coalition of 58 agricultural,
agri-business and rural organizations dedicated to providing financial resources
to assist Ontario’s agri-food sector and rural communities to remain
competitive, grow and maintain their economic strength. The AAC receives its
funding from Agriculture and Agri-Food Canada. To learn more about the AAC
please visit our Web site at
www.adaptcouncil.org.
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For more information please contact:
Nadine Buitenhuis
Communications Coordinator
Agricultural Adaptation Council
Phone: (519) 822-7554
e-mail:
Nadine's e-mail
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