Swift Australia has denied that there is any substance behind rumours that the company has bought, or is about to purchase the Kilcoy Pastoral Co export beef plant north of Brisbane, or the Harvey Beef processing operations in Western Australia.

Talk sweeping the beef industry since late last week has suggested that Swift was in the advanced stages of a takeover of both plants, currently controlled by Singapore-based Harmony Group, with a 20pc stake held by Futuris.

Swift Australia director John Berry denied the claims on Tuesday, specifically refuting suggestions that offers had been made on either plant.

When chief executive officer Iain Mars was approached on the subject on Friday, he was prepared to say only that the company was always looking for opportunities within Australia.

"We like to look at businesses where we can add value," he said.

Swift Australia is already the nation's dominant red meat processor, controlling 21pc of Australia's red meat kill, based on most recent processing industry data.

Kilcoy kills about 53,000 tonnes (carcase weight) annually, almost all grainfed cattle representing about 1.8pc of national kill, while Harvey Beef in WA kills about 45,000t, equating to 1.5pc of national red meat processing.

Much of the throughput at the Harvey Beef plant, south of Perth, is in hot-boning form, producing manufacturing type beef.

The plant has struggled to remain viable over recent years.

Both Kilcoy and Harvey Beef came under the control of Harmony Group last year in separate deals a few weeks apart.

However, Harmony is widely perceived as an 'opportunistic' investor in the red meat industry, and one which may not have long-term operational interest in the plants.

* Extract from a full report in Queensland Country Life, August 14.