Pilmico and Gold Coin, the food and agribusiness subsidiary of the Aboitiz Group, will be allocating PHP 2.83 billion (USD 51 million) in the next 12 months, mainly for its international feed mill expansions in Long An, Vietnam and Yunnan, China.
Pilmico continues to embrace the renewed entrepreneurial spirit of the “Great Transformation”, an innovative growth strategy driven by technology and a renewed entrepreneurial spirit that sees the group transform into the Philippines’ first tech glomerate. “Empowered by the fusion of technology and innovative thinking, the Aboitiz Group is going full-speed ahead with our Great Transformation, charting an audacious course towards boundless growth,” said Aboitiz Group president and chief executive officer, Sabin Aboitiz.
The facility in Yunnan, China will have a production capacity of 150,000 MT, which can be expanded up to 270,000 MT. The feed mill in Long An, Vietnam, will have a production capacity of 200,000 MT, which can be expanded to 300,000 MT to meet demand and drive further growth.
Aboitiz recently announced its exit from Sri Lanka to grow its animal feed business in other Asian markets.