THAI UNION AGREES NEW JOINT VENTURE
Thai Union agrees new joint venture. Thai Union Group PCL (‘Thai Union’) has announced that its subsidiary Thai Union Manufacturing Co., Ltd. (“TUM”) has agreed to launch a new joint venture with JWD InfoLogistics Public Company Limited’s subsidiary Pacific Cold Storage Co., Ltd(“PCS”). The new joint venture Pacific TUM Cold Storage Co., Ltd. (“PACT”) will start the construction of a new cold storage warehouse to accommodate the increasing raw material of TUM. The new facility will be built in Samut Sakhon – the vicinity of TUM factories.
The new company PACT will be registered with a capital of THB 160 million and JWD and Thai Union Group will each hold equally 50 percent of ordinary shares.
“The investment will enhance Thai Union’s supply chain management and competitiveness”, said Thiraphong Chansiri, CEO at Thai Union Group, “The new joint venture will help secure the raw material storage for Thai Union and, at the same time, includes a business model that maximises the space capacity. PCS has a long experience in cold storage business and we look forward to embarking on this new journey together.”
PCS will manage the new storage operations after the facility completes in the fourth quarter this year.
Thai Union Group PCL is the world’s seafood leader, bringing high quality, healthy, tasty and innovative seafood products to customers across the world for more than 40 years.
Today, Thai Union is regarded as one of the world’s leading seafood producers and is one of the largest producers of shelf-stable tuna products with annual sales exceeding THB 132.4 billion (US$ 4.2 billion) and a global workforce of more than 44,000 people who are dedicated to pioneering sustainable, innovative seafood products.
The company’s global brand portfolio includes market-leading international brands such as Chicken of the Sea, John West, Petit Navire, Parmentier, Mareblu, King Oscar, and Rügen Fisch, Thai-leading brands SEALECT, Fisho, Qfresh, Monori, Bellotta and Marvo, and ingredient and supplement brands UniQ™BONE, UniQ™DHA and ZEAvita.