August 9, 2010

Thailand-based Charoen Pokphand (CP) is set to expand its poultry business in Turkey, according to the conglomerate's local subsidiary CP Standart.

CP Group is known for its agro-based industries in Thailand, and specialises in chicken, egg and animal feed production.

CP Standart Vice Chairman Nezih Gencer said that they intend to increase their turnover to TRY760 million (US$511 million), an increase of 19% over the previous year, and their total worth of exports to TRY13 million (US$8.74 million) by the end of 2010.

Speaking of their recent investments in Turkey, Gencer said that their production facility, consisting of hatcheries and breeder farms in Bursa's Inegol district, was under construction and the facility would be able to produce 9.5 million chickens per year.

"We aim to achieve annual growth of 10%-15% in egg production," Gencer added.