January 14, 2008 - SFB Staff — Phillips Foods announced last week that it will invest more than $21 million to increase its presence in Thailand.

The company plans to build a 150,000-square-foot seafood processing facility in Bangkok to process prepared foods such as stuffed shrimp and crab cakes. The plant will supply hotels, restaurants, cruise lines and retail stores in Asia, Australia and Europe.

The first phase of construction will be complete in early 2009. The next phase will add an additional 60,000 square feet within three years.

The company expects the plant to pull in $20 million in revenue in its first year.

The plant will employ as many as 700 workers once complete.