Thai Union Manufacturing Co., Ltd. (“TUM”), has decided to establish a new joint venture with JWD InfoLogistics Public Company Limited’s subsidiary Pacific Cold Storage Co., Ltd(“PCS”) with the aim of building a cold-storage facility, Thai Union said on 5 January.
The new company, Pacific TUM Cold Storage Co., Ltd. (“PACT”), will construct a new cold storage warehouse to handle raw materials of the Thai Union subsidiary.
The facility will be located in Samut Sakhon, which is close to TUM factories. Construction work at the project is expected to finish in the fourth quarter of this year.
“The investment will enhance Thai Union’s supply chain management and competitiveness,” Thai Union’s CEO Thiraphong Chansiri said. “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.”
TUM and PCS will each hold 50 percent of stake in the PACT which will have a registered capital of THB 160 million (USD 4.77 million, EUR 4.22 million).
The establishment of the new venture with PCS is the latest move made by Thai Union in its efforts to expand business operations. On 4 January, the company announced that it has formed a new company, i-Tail Americas, Inc. to take care of its pet food business in the United States.
i-Tail Corporation will take full ownership of i-Tail Americas, Inc., which will have a registered capital of USD 5 million (EUR 4.4 million). The new company will buy shares of U.S. Pet Nutrition, a distributor of pet food in the U.S. owned by Thai Union North America Inc.
Following the launch of i-Tail Corporation in 2021, the latest restructuring move in the U.S. market is expected to further strengthen Thai Union’s pet food business and support its growth in the sector, the company said.
Photo courtesy of Thai Union
