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.