MLBA7: February / March 2009
Updates on...
Thailand's Sea Value may not reach its THB1.8-billion target
Two years ago, the Sea Value Group surprised the tuna industry by announcing a joint venture with Bumble Bee Foods, the biggest seafood producer in the North America. Since then, they have become one of the biggest frozen food exporters in Thailand.
Sea Value produces 1,200 tonnes of tuna products a day from its two factories. Lately, however, there are fears that the group may not achieve its THB18,000-million total export target due to the strengthening baht and diminishing tuna supply.
"We are expecting a decrease of around 10 percent (THB1,800 million) in our target this year," said Poj Aramwattananont, president of Sea Value Co., Ltd. "The stronger baht is affecting the industry and with the continuing economic crisis, local exporters are at a disadvantage. Our competitiveness is affected."
Mega-merger between Pfizer and Wyeth confirmed
Pfizer and Wyeth announced that they have entered into a definitive joint venture worth US$68 billion wherein Pfizer will buy Wyeth in a cash-and-stock transaction currently valued at US$50.19 per share.
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CP boosts seafood standards with new farming system
The closed farming system did not use any chemicals and ensures better quality shrimp that is fresher and larger, said Sujit Kaewchum, vice president for shrimp farming techniques at CP.
The system, which involves temperature control and automatic feeding, also facilitates year-long production. If the project proves to be a success in Thailand, the system will be introduced to other countries that have longer and colder winters, such as China.
As part of a national campaign to regain consumer confidence in the aftermath of the tainted milk scandal, employees and representatives of China's dairy giants Mengniu and Yili swore to improve management, take strict quality control of raw milk and take full responsibility for each step in providing their products.
Mengniu and Yili said quality checks have strengthened since the scandal and Mengniu has installed special melamine-testing equipment and conducted research on other potentially harmful chemicals.
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The company plans to move part of its chilled and frozen pork production capacity to the area. The newly-leased facility has an annual chilled and frozen pork production capacity of approximately 30,000 tonnes.
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