December 4, 2018
Cargill expands Thailand business with US$70 million investment in seafood, poultry
Cargill in Thailand announced its continuing commitment to the country with investments of more than US$70 million over the next two years, the company announced in late November.
The move will address the increase in global demand for seafood and poultry consumption.
The US$70 million investments are part of Cargill's global innovation strategy to leverage technology, in support of the needs of partners and customers. This includes technology implementation into the poultry supply chain, additional funds for the Technology Application Center to be used for research and development in relation to the aquaculture industry, and the expansion of a cooked poultry facility in Nakornratchasima, northeastern Thailand. The company will also upgrade and refurbish an aqua feed production plant located in Petchaburi.
The investment into the poultry business reflects its importance to Cargill, which makes up nearly 80% of the company's operations in Thailand, with exports to more than 28 countries around the world.
"These planned investments demonstrate our commitment to the communities and people of Thailand. We appreciate the Thai government's support of direct foreign investment which has allowed companies like Cargill to grow with the Thai economy and community over the last 50 years. By investing in technology innovation, we can make our supply chains as efficient and sustainable as possible – as we work to nourish those in Thailand and around the world," said Dave MacLennan, chairman and CEO of Cargill, during his visit for the 50th anniversary celebrations.
A part of Cargill's ongoing commitment to Thailand also consists of investments in the local community, including efforts to equip more than 1,500 farmers with agricultural technical knowledge and training. In addition, the company works with local partners such as Save the Children Thailand to create nutrition initiatives for school-aged children and has been providing clean drinking water stations for schools, continually supporting schools around the company's facilities and building homes for rural residents.
Cargill has operated in Thailand for 50 years, opening of its first office in 1968. The company has invested more than US$1.15 billion into its operations to-date across various businesses during its expansion and growth through the years, and currently has 14 facilities throughout the country with more than 17,000 employees.