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CP Foods to invest in expansion, acquisitions

CP Foods to invest in expansion, acquisitions

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From WATTAgNet:

Charoen Pokphand Foods PCL, Thailand’s largest meat and animal feed producer, plans to spend THB20 billion-25 billion (US$614 million-767 million) this year, mostly to expand its international operations and overseas acquisitions.

Aiming to meet the company’s sales growth target of 10 percent per year, it will keep its annual investment budget at that level over the next five years. Two-thirds of CP Foods’ revenue comes from overseas markets, where it is aiming for revenue growth of 15 percent. It is focused on high-growth markets in Japan, Russia, South Korea and the Philippines.

CP Foods plans to spin off the non-core assets of its Hong Kong-listed CP Pokphand, and put the new entity on the Hong Kong stock exchange near midyear.

The company’s shrimp and farm businesses have taken hits this year, but it expects to recover in those two areas in the second quarter. CP Foods’ farm business accounts for 35 percent of sales, but has been hurt by price volatility and excess supply.

Its shrimp business was affected by Early Mortality Syndrome and higher European Union tariffs on Thai frozen shrimp. CP Foods will focusing on customers in China and Australia, while its Vietnam unit will export to Europe.

CP Foods to invest B20-25bn, spin off non-core assets

Charoen Pokphand Foods PCL plans to spend 20-25 billion baht this year, mostly on the expansion of its international operations and overseas acquisitions. CP Foods plans to spin off the non-core assets of its Hong Kong-listed CP Pokphand, and put the new entity on the Hong Kong stock exchange sometime in the middle of the year, Mr Adirek said.

Read more at Bangkok Post

Thailand CP Foods to invest up to $763 mln in 2015 as it expands abroad

* Aims to spend up to 25 bln baht a year over next five years * To spin off non core assets of Hong Kong-listed unit * Sales from overseas markets to rise 15 pct, higher than domestic * Expects shrimp and farm business to recover in Q2 (Adds comments on overseas, chicken, shrimp businesses) By …

Read more at Yahoo News

Thailand’s CP Foods to invest $763m in 2015 in expansion

Thailand-based meat and animal feed producer Charoen Pokphand Foods (CP Foods) is planning to spend between $611m and $763m in 2015, primarily on overseas expansions and acquisitions. The company’s annual investment budget will be the same for the next five years. The company earns two-third of its revenue from overseas markets, where it is aiming to reach revenue growth of 15%.

Read more at Food Processing Technology

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