Avex S.A.

repaid

Avex is a vertically integrated poultry operation located in Río Cuarto, in the province of Córdoba. The enterprise, which started operations in 2007, seeks to produce and market chicken meat and chicken products and export most of its production (approximately 70%). Avex will have an initial production capacity of some 60,000 chickens per day, equivalent to approximately 4% of the total number of chickens slaughtered in Argentina in 2006.The proposed loan will be used mainly to finance working capital needs during the start-up of production and marketing activities. With this project, the Corporation will provide financial support to a new enterprise, the purpose of which is to convert vegetable protein with low value-added into animal protein with greater value-added. Avex will be labor-intensive and will provide direct employment for approximately 300 people at peak production capacity. The demand for direct labor for this project is having a significant impact on the city of Río Cuarto.