Latest news with #Friboi
Yahoo
31-03-2025
- Business
- Yahoo
JBS plans two meat plants in Vietnam with $100m investment
Brazil's JBS plans to build two meat factories in Vietnam with a total investment of $100m. Beef, pork and poultry products will be produced at the pair of sites, once operational, although the world's largest meat processor said the facilities will 'mainly use raw materials imported from Brazil'. The owner of global protein brands such as Friboi, Seara and Pilgrim's Pride added in a statement that the Vietnamese plants will supply the local market and others in South-east Asia. JBS said the twin projects are expected to create around 500 jobs, with the production sites to be built in two phases. Under the first, a facility will be constructed in Khu công nghiệp Nam Đình Vũ located in the city of Hải Phòng in north-east Vietnam. It will include a logistics center with storage facilities, along with 'pre-processing, cutting and packaging activities'. As part of a memorandum of understanding (MoU) signed with the Vietnamese government, the second site will be built in the south of the country in an unspecified location. It will be similar in operation to the first, with construction likely to start two years after production begins at the initial plant. Just Food has asked JBS to confirm what production presence the meat packer currently has in Vietnam and the wider South-east Asia region, and for an idea of when the projects are due to get off the ground. JBS said in the statement that the two Vietnamese plants are intended to 'expand its presence in the region' and also to 'strengthen its position in the global market'. Renato Costa, the president of JBS's Friboi business, said: 'The new factories in Vietnam will not only be an expansion of production capacity, but an investment with purpose: to generate value for the local economy, create qualified jobs, contributing to food security throughout South-east Asia. 'We are investing in the future, with a focus on innovation, sustainability and development.' JBS has recently announced other global investments to expand its capacity and reach. In February, $200m was earmarked for US beef production in the states of Texas and Colorado for plants located in Cactus and Greeley. A major investment was also announced at the back end of last year for Nigeria. JBS said it would spend $2.5bn on six meat-processing facilities in the African country over five years - three for poultry, two for beef and one for pork. Also last year, JBS announced the business would quadruple production in Saudi Arabia with a new chicken facility in Jeddah. The company also has a processing unit in the city of Dammam. And on the branded front, but outside of animal-based proteins, it emerged earlier this month that JBS-owned Vivera had agreed to acquire The Vegetarian Butcher alternative-meat business of Unilever. On Vietnam, Costa added: 'The partnership between JBS, the Vietnamese government and our local partners represents an essential strategic step for our geographic diversification. 'This move not only strengthens our ability to serve the local market, but also expands our global presence, creating a robust and sustainable production chain that positions us even more competitively on the international stage.' "JBS plans two meat plants in Vietnam with $100m investment" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
29-03-2025
- Business
- Yahoo
Brazil meatpacker JBS to spend $100 million to build 2 factories in Vietnam
By Patricia Vilas Boas (Reuters) - Brazilian meatpacker JBS announced on Saturday that it will invest US$100 million to build two factories in Vietnam, aiming to expand its presence in Southeast Asia and strengthen its position in the global market. According to a statement from the company, the plants will produce beef, pork and poultry, and will mainly use raw materials imported from Brazil. The goal is to supply Vietnam and other countries in the region. The agreement was formalized on Saturday through a memorandum of understanding with the Vietnamese government, JBS said. Reuters reported last week that JBS was considering the deal. The deal was sealed during a state visit by Brazilian President Luiz Inácio Lula da Silva to Vietnam, in which the opening of the Vietnamese market to Brazilian meat was announced. JBS was part of the business delegation accompanying the president. "The new plants in Vietnam will not only be an expansion of production capacity, but an investment with a purpose: to generate value for the local economy, create skilled jobs, and contribute to food security throughout Southeast Asia," said Renato Costa, the CEO for Friboi, JBS' beef division, in the statement. Friboi presents itself as a leader in the beef market in Brazil. According to the plan announced by JBS, the first facility will be built in Khu công nghiệp Nam Đình Vũ, including a logistics center with storage capacity, covering pre-processing, cutting and packaging activities. The agreement projects the second factory will be built in the south of Vietnam two years after the first facility starts operations. It will include similar infrastructure, including a logistics center and a processing plant. Sign in to access your portfolio
Yahoo
29-03-2025
- Business
- Yahoo
Brazil meatpacker JBS to spend $100 million to build 2 factories in Vietnam
By Patricia Vilas Boas (Reuters) - Brazilian meatpacker JBS announced on Saturday that it will invest US$100 million to build two factories in Vietnam, aiming to expand its presence in Southeast Asia and strengthen its position in the global market. According to a statement from the company, the plants will produce beef, pork and poultry, and will mainly use raw materials imported from Brazil. The goal is to supply Vietnam and other countries in the region. The agreement was formalized on Saturday through a memorandum of understanding with the Vietnamese government, JBS said. Reuters reported last week that JBS was considering the deal. The deal was sealed during a state visit by Brazilian President Luiz Inácio Lula da Silva to Vietnam, in which the opening of the Vietnamese market to Brazilian meat was announced. JBS was part of the business delegation accompanying the president. "The new plants in Vietnam will not only be an expansion of production capacity, but an investment with a purpose: to generate value for the local economy, create skilled jobs, and contribute to food security throughout Southeast Asia," said Renato Costa, the CEO for Friboi, JBS' beef division, in the statement. Friboi presents itself as a leader in the beef market in Brazil. According to the plan announced by JBS, the first facility will be built in Khu công nghiệp Nam Đình Vũ, including a logistics center with storage capacity, covering pre-processing, cutting and packaging activities. The agreement projects the second factory will be built in the south of Vietnam two years after the first facility starts operations. It will include similar infrastructure, including a logistics center and a processing plant.
Reuters
29-03-2025
- Business
- Reuters
Brazil meatpacker JBS to spend $100 million to build 2 factories in Vietnam
March 29 (Reuters) - Brazilian meatpacker JBS ( opens new tab announced on Saturday that it will invest US$100 million to build two factories in Vietnam, aiming to expand its presence in Southeast Asia and strengthen its position in the global market. According to a statement from the company, the plants will produce beef, pork and poultry, and will mainly use raw materials imported from Brazil. The goal is to supply Vietnam and other countries in the region. The agreement was formalized on Saturday through a memorandum of understanding with the Vietnamese government, JBS said. Reuters reported last week that JBS was considering the deal. The deal was sealed during a state visit by Brazilian President Luiz Inácio Lula da Silva to Vietnam, in which the opening of the Vietnamese market to Brazilian meat was announced. JBS was part of the business delegation accompanying the president. "The new plants in Vietnam will not only be an expansion of production capacity, but an investment with a purpose: to generate value for the local economy, create skilled jobs, and contribute to food security throughout Southeast Asia," said Renato Costa, the CEO for Friboi, JBS' beef division, in the statement. Friboi presents itself as a leader in the beef market in Brazil. According to the plan announced by JBS, the first facility will be built in Khu công nghiệp Nam Đình Vũ, including a logistics center with storage capacity, covering pre-processing, cutting and packaging activities. The agreement projects the second factory will be built in the south of Vietnam two years after the first facility starts operations. It will include similar infrastructure, including a logistics center and a processing plant.
