Prima Agri-Products, one of Malaysia's largest manufacturers of
Halal meat products, has joined up with Australian heavyweight food
maker, Comgroup, to help it tap growing demand for its products in
new markets.
New confectionery products and strong demand for beverages lifted
sales at Taiwan's Want Want Holdings by 28 per cent during the
first quarter, while higher margins helped it reduce the impact of
rising sugar prices.
Malaysia's largest soft drinks maker Fraser & Neave Holdings
says it will treble its exports sales in the next two years by
entering the Middle East's condensed milk market.
Asia Pacific Breweries is making headway in its aim to become the
region's leading brewer, with its first acquisition in the world's
second most populous nation, India.
Chinese dairies need to invest more in R&D to capitalise on
future growth in added value products like milk drinks, cheese and
yoghurts, advises a new report from consultants McKinsey.
Philippines-based Universal Robina will spend P5.6 billion (€87m)
this year to expand its branded foods range and increase its
presence in other Asian markets, URC president Lance Gokongwei told
reporters last week.
The world's biggest instant noodle maker, Indofood, said yesterday
that its 2005 net profit fell 68 per cent on the prior year to
IDR124 billion (€11.4m).
US soft drinks giant Pepsi opened its first research and
development centre outside the US in Shanghai yesterday, signaling
its commitment to the fast-growing Chinese market.
Uni-President, Taiwan's biggest food group, is looking for private
equity to allow it to expand further in the Chinese beverage
sector, according to a report.
South Korean brewer Hite announced Friday it work with Jinro, the
country's leading distiller, to create the leading bottled water
brand on the national market.
PepsiCo has announced it will invest another $850m in China over
the next three years in recognition of the country as a rapidly
emerging market for soft drinks and snack foods.
French dairy giant Danone has received approval from the Chinese
authorities to more than double its existing stake in China's
biggest dairy company, Tom Armitage reports.
Heineken last week announced its decision to acquire a 40 per cent
stake in the Chinese brewery Jiangsu DaFuHao, after intimating in
its February results that it would continue to look for investment
opportunities.
The future of the milk formula market in China lies with better
product quality and greater brand loyalty following the revelation
last year that much of the formula on sale there was fake. The move
towards higher margin products...
China is becoming an increasingly potent force in the worlds food
market, with sales continuing to grow each year in line with
substantial gains in consumer spending power, writes Chris
Jones.
Indofood, Indonesia's biggest food company, has reported 2004
profits severely hit by the devaluation of the rupiah, but remains
hopeful of an upturn in 2005 following efforts to reduce its
exposure to exchange rates and the...
One of Asia's biggest food retailers, Dairy Farm, has this week
announced strong sales growth for 2004 helped by the recovery of
many local economies and a raft of recent acquisitions. But
increasing competition from European...
China Food Industries has announced plans to triple the size of its
cold room facilities, despite announcing a fall in sales for the
full year ending in December.
The world's biggest food retail groups are continuing to strengthen
their positions in the massive Chinese market, buoyed by a recent
relaxation of the regulations requiring them to use local partners.
Carrefour and Wal-Mart...
The Shanghai Jinshan District Government has confirmed that Suntory
Investment, a Chinese investment company, has acquired 74 per cent
equity of Shanghai Eastern Sea Beer, a leading brewery company
located in Zhangyan County of the...
Three senior executives from China dairy group Yili have been
detained by police authorities allegedly investigating accusations
of company embezzlement. Analysts believe the news is likely to
send shock waves through the sectors...
Jinro, South Korea's largest spirit producer, has confirmed that it
will invite bids by the end of this month, a move that aims to
raise $2 billion (€1.5 bn) and allow the bankrupt company to pay
off its creditors. Simon Pitman...
With the market for canned food doubling in size in the course of
the last eight years, further growth is expected in line with the
rapidly expanding China economy in the coming years.
Wal-Mart China has confirmed that it is opening up its first store
in Shanghai. The store is due to open up next year and the company
has confirmed that recruitment of staff has begun, reports Simon
Pitman.
Wal-Mart has reversed its decision not to allow trade unions for
its store workers in China. Bowing to pressure from government
authorities, the move comes as a strong sign that international
food and beverage businesses must heed...
The rising price of global freight and fuel costs means that food
business worldwide need to streamline their operations. As the
transport requirement of China continue to put pressure on shipping
availabiliy, a new report suggests...
The British Retail Consortium (BRC) will be releasing a 'Chinese
Simplified' translation of its groundbreaking Global Standard
for Consumer Products on 26 October 2004.
Southeast Asia's largest food and beverage firm San Miguel is
considering a bid for 40 per cent of Philippines' Del Monte
Pacific, currently held by insolvent Italian food group Cirio.
Danish brewer Carlsberg has acquired a 34.5 per cent stake in Wusu
Brewery, located in the Xinjiang Autonomus region. The move
represents Carlsberg's ambitions to increase its presence in the
less developed Western provinces.
China's food industry grew by 26.2 per cent in the first six months
of this year. And despite rising power and ingredients prices, The
China National Food Industry Association says that continued
economic strength, backed by...
Singapore-based QAF limited, one of South East Asia's leading food
companies, has said that its wholly owned subsidiary, Singfood
Investment has entered into an agreement with Mega Ocean Holdings
to acquire a 27 per cent stake...
Unilever has reported a small fall in sales for its operations in
the Asia Pacific region during the first half of the year, as
overall results are dragged down by even worse performances in the
European and North American markets....
Mirroring China's record economic growth, mergers and acquisitions
activity has boomed to record levels this year. According to
PricewaterhouseCoopers M&A activitity in both Hong Kong and
China grew 168 per cent in the first...
US ingredients giant ADM saw double-digit sales growth for the year
but overall profits were dragged down by a volatile soybean market
in China. The company said that many cancelled orders from soy meal
buyers there had particularly...
The Philippines-based San Miguel Corporation has broken ground on a
non-alcoholic beverage facility in South Vietnam. The move comes as
part of the company's plans to increase its operations outside the
domestic market - aims...
Loders Croklaan, part of the Malaysian IOI Group and a world leader
in the production of palm oil based products for food use, has
confirmed the intended purchase of Malaysian palm oil specialties
company Soctek in an attempt to extend...
The Thai government has announced a series of planned investments
by Chinese companies, one of which includes a THB 500 million
(€10m) aimed at a leading Thai cooking oil business.
In Indonesia Nestlé and Coca Cola have announced the creation of a 50:50 joint venture, Water Partners Bottling (WPB). The new business is being used as a platform to acquire a 65 per cent share of PT AdeS Alfindo Putrasetia (AAPS), the number two player...
French drinks group Rémy Cointreau has reported double-digit growth
in the first quarter of 2004, driven by strong gains in Asia and
the US, but continued weakness in its domestic market took a toll
on Champagne sales.
Although the Chinese economy is showing definite signs of slowing,
experts have said that it is not about to overheat. Investment,
particularly in the food and beverage sector, is continuing apace,
but this being coutnerbalanced by...
Carlsberg
and the Danish Industrialization Fund for Developing Countries
(IFU) have drawn up an agreement with Lanzhou Huanghe Enterprise
Group to acquire 50 per cent of the LanzhouHuanghe Brewery's
operations in the Gansu...
Yields of the Asian staple rice are plummeting at twice the rate
modellers had predicted due to the increasing effects of global
warnings, according to a report from the Philippines-based International Rice Research
Institute (IRRI)....
Australia's biggest wine producer, Southcorp, has announced an
extensive restructuring designed to counteract the affects of a
downturn in the US economy and a weakened Australian dollar. The
AUS93 million (€53.7m) package involves...
Philippine-based food and beverage giant San Miguel has reported
that consolidated net profits in the five months to May of this
year rose 32 per cent to PHP3.29 billion (€47.98m), due mainly to
higher operating income from increased...
A Hong Kong stock Exchange disclosure has revealed that investment
company Castlerigg International has bought a strategic 10.01 per
cent stake in China's Harbin Brewery, a move that looks likely to
put more pressure on international...
The managers of Singapore-listed People's Food have moved to quash
speculation over a profit warning, following rumours that the
company was about to be downgraded by analysts.
Joint ventures (JVs) are rapidly falling out of favour as the
preferred way of establishing a foothold in the China food market,
according to new research. Persistent problems with intellectual
property are highlighted as the core...
