Cj sc global milling llc

Sumitomo Corporation (Head Office: Chuo-ku, Tokyo; President và CEO: Kuniharu Nakamura) has signed the relevant agreements with CJ CheilJedangCorporation (Head Office: Seoul, South Korea; CEO: Kim Chul-ha, hereinafter “CJ”), a major food company based in South Korea, on the joint establishment of a firm that will manufacture và sell flour & baking pre-mix products in the Vietnamese province of bố Ria-Vung Tau.CJ is a member of the CJ Group, which was originally founded in 1953 as the first manufacturing business of the Samsung Group and then spun off from the conglomerate in 1993.

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Starting out as a sugar refinery, the CJ Group has expanded its food business to lớn become the leading player in South Korea’s food industry, manufacturing & distributing a broad range of food ingredients và other related products ranging not only from flour & flour mix, cooking oil, seasonings, packaged food & processed meat but also to lớn pharmaceuticals & animal feed. In addition, the enterprise entered into other industries from the 1990s, lượt thích logistics and multimedia (which includes TV shopping và filmmaking) to lớn become one of the country’s top-tier diversified conglomerates.In response khổng lồ soaring food demands evident in the burgeoning markets of emerging economies, Sumitomo Corporation has been seeking an opportunity lớn advance into the primary grain-processing sector, focusing its tìm kiếm mainly on Asia. With huge growth potential, Vietnam is counted among the most promising markets, particularly in Southeast Asia, given its growing population, which is expected to exceed 100 million in the coming decade from the current 90 million. As Western lifestyle is likely khổng lồ become a majority of the Vietnamese diet, the demand for essential ingredients such as flour và related products is expected lớn increase. To lớn enter this rising market, Sumitomo Corporation has found an ideal partnership in CJ, the strategy of whom perfectly matched each other.

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Under this joint-venture, the two enterprises will take full advantage of their respective strengths with the aim of winning a substantial cốt truyện at the earliest possible time. Sumitomo Corporation brings to the partnership the flour sales know-how it has accumulated in the Vietnamese market. CJ, meanwhile, with more than 55 years experience in flour milling business, provides its operational excellence and know-how of manufacturing và R&D competence in the state-of-the-art flour milling technologies for producing high-value-added products with a primary focus on high-end food ingredients of such as seafood-based and bakeries products.Following this joint-venture, the two enterprises are enhancing their partnership by extending the collaboration khổng lồ diversify khổng lồ other food products sectors in Vietnam. To vì chưng this, They will bring together their strength of various areas, which includes the grain harvesting/storage and frozen dough business, where Sumitomo Corporation has established in Australia, and CJ’s animal feed operation in Vietnam. Furthermore, Sumitomo Corporation will consider the possibility of introducing primary grain processing projects in other emerging Asian markets lượt thích Myanmar, Cambodia & Laos with CJ. By playing a vital role in building an integrated value chain stretching from grain harvesting and flour milling to the manufacturing và distribution of products, Sumitomo Corporation will contribute to lớn improving the global lifestyle with the aim of ensuring a safe & high-quality food supply.

Company name	:	CJ-SC GLOBAL MILLING LLC (Planned)
Address	:	Ba Ria-Vung Tau, Vietnam
Total Investment Amount	:	USD44,000,000.-
Ownership ratio	:	CJ CheilJedang Corporation 51%, Sumitomo Corporation Group 49%
Main business (production capacity)	:	production, distribution, sales & exports of wheat flour và flour premix và other products in/from Vietnam
Beginning of operation (production capacity)	:	March, 2015 (wheat milling capacity: 500mt/day -> 160,000 mt/year)

Vice President of CJ(Right) and Executive Vice President, General Manager of Media, Network, Lifestyle Related Goods & Services Business Unit Shinichi Sasaki of Sumitomo Corporation signed an agreement