July 17, 2009
CPF expands Taiwanese operations
Charoen Pokphand Foods (CPF) is acquiring a 32.41 percent stake of Taiwan's leading agro-industrial and food firm CP Enterprise (Taiwan) Co. (CPE) for THB826 million (US$24.23 million), as part of its ambitious overseas business expansion.
Taipei-listed CPE is a leader in animal feed mills, meat processing and food processing in Taiwan, with total revenue of NT$13.07 billion and net profit of NT$211.74 million last year.
According to CPF's president and chief executive officer Adirek Sripratak, the investment in Taiwan will help expand income from CPF's overseas operations.
In addition, CPF will utilise its experience to enhance the Taiwanese subsidiary's capability in processed food and swine businesses.
US$1 = NT32.948 (July 17)
