Cargill adds to aquaculture business
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BANGKOK, THAILAND — Cargill is expanding its aquaculture business with the acquisition of Siamakme Aquatic Feeds Co., Ltd., a shrimp feed manufacturer in Thailand. Terms of the agreement were not disclosed.
“Thailand is a major producer of fish and shrimp with strong growth potential, and we are delighted about this strategic acquisition because it strengthens our presence in Asia and provides a platform for further expansion in this important market,” said Watcharapong Poomongkutchai, managing director of Cargill Feed & Nutrition Thailand.
Under terms of the acquisition, Cargill will assume 100% ownership and operation of the Siamakme manufacturing facility that is located in Petchaburi, Thailand. The facility, which was built in 2001 and expanded in 2008, has a production capacity of 60,000 tonnes of shrimp feed per year. Cargill has been active in Thailand since 1968, when it opened a trading office in Bangkok. The company now employs more than 12,000 people across nine locations in Thailand.
The acquisition adds to Cargill’s existing shrimp feed production capabilities in Mexico, Nicaragua, Honduras, Guatemala, Peru, Venezuela, India, Malaysia and Vietnam. With this investment, the company said it will continue to leverage its global research and development capabilities, which includes 15 R.&D. facilities around the world where researchers develop new and improved feed technologies.