Betagro Plc, one of Thailand’s leading integrated agricultural businesses, today announced that it has formed a joint venture with Itoham Foods Inc of Japan and Ajinomoto (Thailand) Co., Ltd. to manufacture processed meat products mainly for export.
The new company, “Itoham Betagro Foods Company Limited”, has been established with an initial registered capital of 172 million baht, with Betagro holding 40 percent of the stake in the company, Itoham Foods Inc 40 percent, Ajinomoto Thailand 15 percent and Itoham’s subsidiary Hoei & Co 5 percent.
The construction of the company’s plant has been planned to start immediately and to be completed by November.
Vasit Taepaisitphongse, president of the newly established Itoham Betagro Foods Co., Ltd., disclosed that the company plans to operate a processed meat manufacturing and distribution plant in Lop Buri Province mainly for the production of ham and sausages by the end of this year.
The initial target for production capacity at the plant will be 3,400 tonnes per year, with an aim to create about 510 million baht of sales revenue by 2012, as the products will be mainly exported to Japan.
The company will also import Itoham’s Rockdale Beef products from Australia for high-end market and food-service industry in Thailand.