Mitsubishi Corp and Thai livestock firm Betagro Group have formed a joint venture to invest in a poultry processing plant, while SET-listed VGI Global Media has tied up with Supremo Co to bolster its media business.
Mitsubishi and Betagro to set up poultry processing plant
Japanese trading house Mitsubishi Corp plans to forge a joint venture with Betagro Group, a Thai livestock and feed products manufacturer, to set up a poultry processing plant in Thailand with a total investment of 6 billion yen ($53.2 million).
Nikkei Asian Review reported the Japanese firm would hold a 50 per cent stake in the JV, while its affiliate Itoham Yonekyu Holdings and Betagro would share 25 per cent each.
The plant is scheduled to launch in October with an annual production capacity of processed chicken meat of 30,000 tonnes. Most of the output will be exported to Japan, and the rest will be sold in Thailand and other countries, including Singapore and Hong Kong.
In Japan, Mitsubishi owns Lawson, a convenience store chain which sells fried chicken and chicken snacks. It also has a stake in KFC Holdings Japan.
VGI forms JV to expand media services
Thai-listed out-of-home media service provider VGI Global Media Pcl has formed a joint venture with media and public relations consultancy Supremo Co Ltd to expand its media services.
The new JV, called Supremo Media Co Ltd, has a registered capital of 1 million baht, divided into 10,000 ordinary shares at the par value of 100 baht each, according to VGI’s filing to the Stock Exchange of Thailand. VGI holds a 25 per cent stake in the JV, while Supremo owns 75 per cent.
VGI expects the JV will support its aggressive growth amid a slowdown in the industry. The company projects revenue in the fiscal year ending at the end of March 2018 will reach 4 billion baht ($124 million), up from 3.36 billion baht ($104 million) in the fiscal year 2017.