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March 19, 2015

Thailand

CP Foods Expects Recovery from EMS by Second Quarter 2015

 

On March 19, 2015, Adirek Sripratak, Chief Executive of Charoen Pokphand Foods (CPF), Thailand’s largest meat and animal feed producer, said CPF plans to spend $611 to $763 million in 2015, mostly on the expansion of its international operations and overseas acquisitions.  It expects to keep its annual investment budget at that level for the next five years, aiming to meet the company’s sales growth target of 10 percent a year.

 

Adirek said CP Foods, the world’s biggest shrimp farmer, expects its shrimp farming business to recover in the second quarter of 2015, after being hit by early mortality syndrome (EMS) in 2013 and 2014.

 

CP Foods is the flagship unit of the Charoen Pokphand Group, owned by Dhanin Chearavanont, Thailand’s richest man.

 

Source: Reuters.  Thailand's CP Foods to Invest Up to $763 Mln in 2015, Spin Off Non-Core Assets.  Reported by Khettiya Jittapong and Manunphattr Dhanananphorn and Edited by Ryan Woo.  March 19, 2015.

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