August 19, 2019
Pilmico repositions itself due to ASF
While African swine fever (ASF) has taken a toll on the operations of Pilmico Foods Corporation, the food and agribusiness subsidiary of Aboitiz Equity Ventures Inc. (AEV), a top official told the Manila Bulletin the company is now in the process of recovery after a few adjustments.
AEV chief operating officer Sabin Aboitiz said that Pilmico already implemented some adjustments as part of the integration of its operations with Singapore-based agribusiness firm Gold Coin Management Holdings Ltd., which it fully acquired earlier this year.
Gold Coin has operations in China and Vietnam, both affected by ASF.
"We just finished buying out. The normal capex (capital expenditure] we're changing it because of the ASF. We're switching a lot of our hog lines to duck lines and chicken lines. A lot of money is going there to be able to sustain the growth," said Aboitiz.