Yet another new processing plant adding to the sector's overcapacity problem may not be built after all. Welsh farmers have failed to commit enough investment for a proposed marketing venture intended to include cutting and perhaps killing facilities. The Welsh Meat Co. plc hoped to persuade at least 1,000 producers to subscribe for £250 of equity each. But after counting applications received by the June 28 closing date the company has announced it reached only 70% of the target. This project, which its backers claim is not necessarily being abandoned, maintains a decades long tradition of proposals for tackling a claimed shortage of kill capacity and weak infrastructure for livestock marketing in Wales. Despite a series of branded Welsh meat initiatives supported by several multiples, many producers in the Principality believe they are not rewarded adequately by slaughterers and retailers, most of which take stock across the border live. But the company's plans have been fiercely criticised by Welsh auctioneers and some processors, and attracted only lukewarm encouragement from the MLC. {{MEAT }}