Alltech announces end-of-year results
[Dublin, Ireland] -- Global animal health company Alltech announced its end-of-year results for 2006. Revenue for the year-end was $303 million, up 20% from 2005.? This strong performance represents many significant advances in the company throughout the year, particularly with regard to the organic selenium product, Sel-Plex?, which is the only such product to have received EU approval. In addition, the company's newest production facility in Brazil was fully up and running with capacity to produce 50,000 tons of yeast annually. The investment of $42 million in this -- the largest yeast facility in the world -- has enabled the company to supply the global demand for natural animal feed products.
Alltech also announced last year a sponsorship deal with the FEI World Equestrian Games, which will be held in the USA in 2010.? The investment is the single largest sponsorship the Games have ever seen. Alltech is now the title sponsor of this prestigious event and the Games have been renamed the Alltech FEI World Equestrian Games.
Alltech is privately owned and is one of the fastest growing companies in the animal feed industry. It has achieved almost consistent growth rates since it was founded in 1980. Annual figures of 20% growth are not unusual for the company, but are perhaps unusual in an industry where growth mainly stems from mergers and acquisitions. In Alltech's case, its development over the years has been purely organic; however, in 2004, it did divest its alcohol division for an undisclosed sum, leaving the company free to exploit its core competency in natural animal feed.