November 23, 2011
Cargill buys Vietnamese shrimp mill
The Cargill Vietnam Co Ltd has completed the acquisition of a shrimp feed mill situated in the southern province of Tien Giang's Tan Huong Industrial Zone from Higashimaru Vietnam Co Ltd, a Japan-based firm.
The sale will give Cargill full ownership of the mill and will be Cargill's first investment in Vietnam's shrimp feed industry. The shrimp mill acquisition will add to Cargill's existing feed portfolio, which includes swine, poultry and fish feed.
Starting operations in 2008, the US$4-million mill has the capacity of 10,000-15,000 tonnes per year. It is strategically located close to some of the largest commercial shrimp farms in Vietnam.
Cargill expects to begin producing its own shrimp feed within two to three months after making additional investments to the mill.
"Shrimp farming is a growing industry, and this mill is a good complement to our existing feed business in Viet Nam. It allows Cargill to quickly enter the shrimp feed manufacturing market in Viet Nam with significant capacity and to begin to service shrimp producers," said Pedro A Curry, Cargill's General Manager for Aquaculture in Vietnam. "We look forward to expanding our business and to working with Vietnamese shrimp producers and helping them succeed."
Added HoÃ ng ThÃ´ng ThÃ¡i, Cargill's National Sales Manager for Shrimp, "We are excited to be bringing our best technology to Vietnamese shrimp producers. Shrimp growers will be able to rely on Cargill to supply them with high-quality, top formulated and best-of-class manufactured nutritional solutions and technical services."