August 27, 2010

Union Frozen Products to become integrated food producer

In a bid to drive sales to THB15 billion (US$479 million) by 2015, the Thai Union Frozen Products (UFP) will produce a wide range of foods that include frozen foods and seafood products to ready-to-eat products.

These will be produced under the firm's Pranpai brand, says Anurat Khokasai, UFP chief operating officer, with an anticipated annual growth rate of 10%-15%.

The UFP goal is to seek foreign strategic alliances in the Middle East, Eastern Europe and Russia.

"We hope to export our products to these three targeted markets by next year or the next three years. We are currently exporting to 40 countries and we are confident we can compete in the international arena, where today our major market accounting for half of our sales is the United States, followed by Asia 30% and the EU by 20%," Khokasai said.