Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Tuesday, 8 January 2019, 09:29 HKT/SGT
Share:
    

Source: Mitsubishi Corporation
Mitsubishi Corporation and Kaneka to Set Up New Processed Oil Products Factory in Indonesia

TOKYO, Jan 8, 2019 - (JCN Newswire) - Mitsubishi Corporation is pleased to announce that its joint venture with Kaneka Corporation, PT. Kaneka Foods Indonesia (KFI), will open a new factory in the city of Bekasi in Indonesia. The move is aimed at enhancing KFI's presence in confectionary and bakery ingredients markets in fast-growing Indonesia. The new factory will install equipment for the manufacture of filling and other processed oil products such as margarine, and will have a production capacity of 15,000 metric tons per year. This project will be invested total 5 billion yen, and the start of commercial production is planned for the first quarter of 2020.

The confectionary and bakery market is expected to continue seeing steady expansion in Indonesia and other Asian countries due to overall population increases as well as the expansion of middle to high end consumer classes. This is especially so in Indonesia where the preference for baked products is increasingly an accepted part of daily life-styles, and where the consumption of baked goods has been showing a compound annual growth rate of 5%. KFI has, since 2013, been responding to customer needs by developing high-quality products that align with local tastes. As a result of this effort, KFI has achieved business expansion, including the successful introduction of a kind of soft bread with an unfamiliar texture to the Indonesian market.

Setting up this new factory will allow KFI to enter a new stage through the supply of new products such as margarine. Furthermore, KFI will be better able to combine product knowledge and technical applications based on customers' specific needs, and accelerate product development. KFI will spread the culture of Japanese style attractive confectionary and bakery around the Asian market to achieve a target of 10 billion yen in sales.


About Mitsubishi Corporation

Mitsubishi Corporation, headquartered in Tokyo, is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.

For more information on Mitsubishi Corporation, please visit the company's website at https://www.mitsubishicorp.com/jp/en/.

Contact:
Mitsubishi Corporation
Telephone: +81 3 3210 2171
Facsimile: +81 3 5252 7705


Jan 8, 2019 09:29 HKT/SGT
Source: Mitsubishi Corporation

Mitsubishi Corporation (TSE: 8058)

Topic: Press release summary
Sectors: Food/Beverage
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2020 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Mitsubishi Corporation Links

http://www.mitsubishicorp.com

https://ph.linkedin.com/company/mitsubishi-corporation

Mitsubishi Corporation
June 2, 2020 13:54 HKT/SGT
Mitsubishi Corporation and NTT complete investment in HERE Technologies
May 21, 2020 14:34 HKT/SGT
'e5 Consortium' Established to Promote Zero-Emission Electric Vessel
Mar 30, 2020 15:28 HKT/SGT
Mitsubishi Corporation and SOHGO SECURITY SERVICES Agree to Strategic Partnership in Facility Management Business
Mar 30, 2020 11:07 HKT/SGT
Mitsubishi Corporation and SOHGO SECURITY SERVICES Agree to Strategic Partnership in Facility Management Business
Mar 25, 2020 16:47 HKT/SGT
Mitsubishi Corporation and Chubu to acquire Dutch Energy Supply Company "Eneco"
Mar 13, 2020 08:09 HKT/SGT
Mitsubishi Corporation: Establishment of PeptiGrowth Inc. for Development and Commercialization of Peptide Alternatives to Growth Factors for Cell Culture
Feb 28, 2020 06:47 HKT/SGT
Mitsubishi Corporation and Chubu Electric Power Consortium Named Preferred Bidder for Offshore Transmission Asset in the UK
Feb 25, 2020 14:16 HKT/SGT
Mitsubishi Corporation and CRISP HD Agree to Business Alliance and Acquisition of Third-Party Shares
Jan 23, 2020 11:39 HKT/SGT
Mitsubishi Corporation Participates in Vietnam's "Grand Park Project"
Jan 8, 2020 08:37 HKT/SGT
Mitsubishi Corporation Joins PET Chemical Recycling Business
More news >>
 News Alerts
Copyright © 2020 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6859 8575

Connect With us: