PIONEER Food Group plans to spend an estimated R1billion in the new financial year to complete projects under construction, for new expansions and necessary replacements.
Pioneer said the expenditure would be channelled into improving production facilities in the white maize meal, biscuit, rice and non-alcoholic beverage categories.
"Capital will be spent to expand the pasta facility to cater for increased demand, as well as the strategic expansion of the broiler business through an acquisition in Gauteng," the company said.
Pioneer reached settlements with the Competition Commission in November last year relating to collusion in maize and wheat milling, baking, poultry and eggs.
It is to pay R500million to the National Revenue Fund and adjust its pricing of flour and bread.
Pioneer spend R1bn on expansion
PIONEER Food Group plans to spend an estimated R1billion in the new financial year to complete projects under construction, for new expansions and necessary replacements.
Pioneer said the expenditure would be channelled into improving production facilities in the white maize meal, biscuit, rice and non-alcoholic beverage categories.
"Capital will be spent to expand the pasta facility to cater for increased demand, as well as the strategic expansion of the broiler business through an acquisition in Gauteng," the company said.
Pioneer reached settlements with the Competition Commission in November last year relating to collusion in maize and wheat milling, baking, poultry and eggs.
It is to pay R500million to the National Revenue Fund and adjust its pricing of flour and bread.
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