Adirek Sripratak, President and CEO of Charoen Pokphand Foods PLC (CPF), states that the company has already invested in eight countries.
The revenue contribution of these overseas operations is about 15% of CPF’s total consolidated sales in 2008.
“Current situation of the Global economic crisis may impact food industry on the declining demand, but it should be modest impact. Things we should focus are cautious expansion policy, with emphasize on cost effectiveness, and also efficient both production and financial planning. Expansion of overseas countries is the ongoing strategy that CPF engages continuously. After thoroughly considering each country for appropriateness and growth opportunity, the company goes in with business expertise and know-how.”
CPF invested in Turkey through its subsidiary, C.P. Standard Gida Sanayi ve Ticeret A.S. Its main businesses include manufacturing and distribution of animal feed, meat and meat processing, with focus of local market consumption. The business plan is to move forward into food business, and looking for export opportunity.
Other investments include in England, where the company is involved in a chilled food production plant to produce a selection of chilled food products in the European Union. Also, in Russia, CPF invested in an integrated swine business run by the Charoen Pokphand Foods (Overseas) Co., Ltd., in Moscow, with registered capital of 900 million ruble.