July 12, 2013
Cargill acquires Siamakme Aquatic Feeds Co., Ltd
Press release
Cargill''s animal nutrition arm has purchased Siamakme Aquatic Feeds Co., Ltd, a shrimp feed manufacturer in Thailand, as part of its plans to increase its presence in Thailand''s shrimp feed industry.
"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.
"Siamakme''s ambition has always been to manufacture the best shrimp feeds in Thailand," said Jeanny Hung, managing director of Siamakme. "We feel that under Cargill''s ownership the business will be able to continue this legacy and tap into Cargill''s global expertise to provide Thai shrimp producers with innovative solutions and high-quality products."
Effective Thursday (Jul 11), Cargillassumes 100% ownership and operation of the Siamakme manufacturing facility which 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. It is ideally located to serve shrimp producers in Thailand; the world''s second-largest shrimp feed market.
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 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.