CJ Group planning new feed factory in China
CJ CheilJedang, Korea’s biggest food manufacturer, said yesterday it will build a new feed factory in China in a bid to beef up its presence there.The food arm of Korea’s food and entertainment giant CJ Group said the feed factory to be built in Liaocheng city in Shandong province will be the company’s ninth feed-manufacturing plant in China.
The plant will have a production capacity of 150,000 tons after construction is completed early next year, it said.
Kim Chul-ha, CEO of CJ CheilJedang, signed a memorandum of understanding with city officials on Thursday, according to the company.
The company, which currently runs a total of 17 production facilities in Southeast Asia, aims to push up revenues from its feed business to 1 trillion won ($858 million) in 2012.
Yonhap
with the Korea JoongAng Daily
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