Pilmico Foods builds 2 new feed mills in the Philippines
Facilities will help meet country’s growing demand for poultry, game birds
To meet the Philippines’ growing demand for poultry and game birds, Pilmico Foods Corp. has invested PHP295 million (US$6.3 million) in two new feed mills, reports Business World Online.
The company said in a statement that the construction of the feed mills – in Kiwalan Cove, Iligan City in Northern Mindanao, and Santo Domingo, Tarlac in Central Luzon – have been completed.
Pilmico Foods is a subsidiary of the Aboitiz Group. Established in 1962, the company provides high-quality wheat flour and related products, and produces swine and animal feeds.
In its most recent quarterly business report, Aboitiz Group stated that its non-listed food subsidiaries - Pilmico Foods Corp., Pilmico Animal Nutrition Corp., and Pilmico International Pte. Ltd. – had posted a 6 percent decline in year-on-year first quarter income contribution, amounting to PHP389 million (US$8.3 million) from PHP416 million (US$8.8 million).
In May 2014, Pilmico International agreed to acquire from Vinh Hoan Corp. of Vietnam a 70 percent stake in Vinh Hoan 1 Feed JSC (VHF), followed by the remaining stake at a pre-agreed price within five years. At the time, VHF was the fourth-largest aqua feed producer in Vietnam, specializing in diets for pangasius, a type of fish.
Two months ago, it was reported that Philippines-based fast-food group, Jollibee Foods Corp. had joined forces with Cargill to build and operate a poultry processing plant in Batangas on the island of Luzon to meet the country’s growing demand for dressed and marinated chicken.