February 20, 2008

Thailand's CP foods to inject US$9.8 million in Russian unit

Thai agricultural conglomerate, Charoen Pokphand Foods said Wednesday (February 20, 2008) its unit in Russia plans to increase its registered capital by RUB240 million (US$9.8 million) to RUB900 million to construct an additional feedmill for capacity expansion.

The company will, via its wholly owned units, inject fresh capital into Russian subsidiary Charoen Pokphand Foods (Overseas) LLC, in which it indirectly holds 99.99 percent, the company said in a statement to Stock Exchange of Thailand.

The transaction is expected to be completed in March, the statement said.