Mitsubishi enters a joint venture in poultry processing in Thailand
The company is willing to invest 6 billion yen ($53.2m) in the processing unit wich will be opened in October at 90 km north of Bangkok. The annual capacity processed in the plant will be around 30.000 tonnes, informed Poultry World.
If the investment proves to be successful, Mitsubishi intends to expand with this kind of facilities in Middle East and Europe in a few years. The biggest part of the meat processed in Thailand will be exported to Japan, but there will also be domestic sales and exports to Singapore and Hong Kong. The poultry market in Japan has been rising in the past three years and imports from Thailand grew by double digits for the past two years.
Until now, Mitsubishi was focused on developing poultry facilities in Japan, where the company owns the convenience store operator Lawson which sells a wide range of chicken snacks. It also holds a stake in KFC Holdings Japan. Mitsubishi holds a 50 percent stake in this new joint venture, while Betagro and Itoham Yonekyu Holdings will each have 25%.
(Photo source: https://maxpixel.freegreatpicture.com)
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