Bachoco Announces No Material Damages and Reinforces its Commitment with Communities Affected by Earthquakes in Mexico.
CELAYA, Mexico, Sept. 21, 2017 /PRNewswire/ -- Industrias Bachoco S.A.B. de C.V. ("Bachoco" or "the Company") (NYSE: IBA; BMV: Bachoco), Mexico's leading producer and processor of poultry and other food products, announced today that there are no material damages in its facilities after the earthquakes of September 7th and 19th, 2017, that occurred in the southern and central regions of Mexico and continues its normal operations.
Rodolfo Ramos, Bachoco's Chief Executive Officer, stated:
"Right now, we are focused in:
- Providing immediate assistance to our employees and their families affected by these unfortunate events.
- To help those affected in the southern communities and Mexico City by donating prepared food directly and through some of the food chains we work with, in coordination with Mexican authorities.
- To continue our operations and to keep the supply of our food products to all the regions we attend, either affected or not by this event.
We will follow closely the evolution of events and be ready to provide assistance in every way we can to help in this difficult situation our country is facing.
Even when there is no easy solution to the unfortunate losses, we are confident that the unity shown by the people in Mexico will enable our country to overcome these events. "
COMPANY DESCRIPTION
Industrias Bachoco is the leader in the Mexican poultry industry, and one of the largest poultry producers globally.
The Company was founded in 1952, and became a public Company in 1997, via a public offering of shares on the Mexican and The New York Stock Exchange. Bachoco is a vertically integrated Company headquartered in Celaya, Guanajuato located in Central Mexico. Its main business lines are: chicken, eggs, balanced feed, swine, and other products. Bachoco owns and manages more than a thousand facilities, organized in nine productive complexes and 64 distribution centers in Mexico, and a productive complex in the United States. Currently the Company employs more than 25,000 people. The Company is rated AAA (MEX), the highest rating awarded by Fitch Mexico, S.A. de C.V., and HR AAA which signals that the Company and the offering both have the highest credit quality by HR Ratings de Mexico S.A. de C.V.
DISCLAIMER
The document contains certain information that could be considered forward looking statements concerning anticipated future events and performance of the Company. The statements reflect management's current beliefs based on information currently available and are not guarantees of future performance and are based on our estimates and assumptions that are subject to risks and uncertainties, including those described in our Annual Information Form, which could cause our actual results to differ materially from the forward-looking statements contained in this document. Those risks and uncertainties include risks associated with ownership in the poultry industry, competition for investments within the poultry industry, shareholder liability, governmental regulation, and environmental matters. As a result, there can be no assurance that actual results will be consistent with these forward-looking statements. Except as required by applicable law Industrias Bachoco, S.A.B. de C.V. undertakes no obligation to publicly update or revise any forward-looking statement.
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SOURCE Industrias Bachoco, S.A.B. de C.V.
