Thomas Foods International strikes $60 million deal with Chinese firm
The company hopes boom times are on the way for Murray Bridge’s meat processing plant after a deal with Shanghai Paradise Garden.
A deal with a Chinese company could prove “transformative” for Thomas Foods International and its Murray Bridge meat processing plant, a company executive says.
Just before Christmas, TFI and the Shanghai Paradise Garden Healthy Food Company reached an agreement for $30 million worth of locally produced red meat to be exported to China by the end of 2024.
Should the Murray Bridge meat works receive the necessary accreditation, that export target would increase to $60 million per year.
Both companies also agreed to identify more opportunities to do business with one another wherever they could.
CEO Anthony Stewart said strong relationships with trusted partners had been the secret to TFI’s expansion into the Chinese market.
“Our world-class beef processing facility at Murray Bridge … sets a new standard for the Chinese market,” he said.
“If approved for export, it would represent more than a business opportunity; it would be a transformative step forward for the Australian red meat industry.
“For South Australia it would provide a significant boost in trade, job creation, and overall economic prosperity.”
The deal represents another step forward for TFI, headquartered in Adelaide, as it rebounds from a fire which destroyed its Murray Bridge meat works six years ago this month.
In 2020, when work began on a replacement facility at Pallamana, company owner Darren Thomas made it clear that he wanted to build a world-class facility that set new standards for safety, sustainability and automation.
The new facility was completed in May of last year.
Premier Peter Malinauskas accompanied Mr Stewart on a trip to Beijing in September, one of several engagements intended to demonstrate the state government’s determination to help South Australian businesses break into the lucrative Chinese market.
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