Chinese Food Producers Lament Lack of Access to Foreign Markets

China’s food producers are facing increased access certification barriers as overseas markets try to protect their own industries, putting pressure on Chinese exporters and squeezing their profits, business insiders said. Complicated attestation and strict access requests, including long approval periods and high fees, are being imposed on Chinese food products in foreign markets, Wang Hongyu,

Taiwan’s Wei Chuan Foods to Construct Factory in Suzhou to Supply the Greater Shanghai Market

Wei Chuan Foods Corp (味全食品) yesterday [30 June 2017] said it is to invest nearly 600 million yuan (US$88.5 million) building a new plant in China’s Suzhou [Jiangsu Province], as part of efforts to accelerate the firm’s turnaround…Full Article: The Taipei Times June 2017 Key Points Between October and December 2018, Wei Chuan Foods’ new

Sauce Maker Lee Kum Kee Reflects on the 20th Anniversary of Hong Kong’s Return to the Mainland

At the newly furnished headquarters at a high-rise building in Shanghai, Hong Kong-based sauce enterprise Lee Kum Kee is celebrating the 20th anniversary of Hong Kong’s formal return to China. The book Family Spirit, which traces the company’s past from a teahouse selling oyster sauce in a small town in Guangdong Province to a sauce

Indofood to Divest itself of China Minzhong Food Over Declining Profits

A company controlled by Indonesian billionaire Anthoni Salim offered to acquire the rest of China Minzhong Food Corp in a deal valuing the Chinese company at S$786 million ($584 million). The deal could help the tycoon exercise greater control over a food empire spanning potato chips, instant noodles and cooking oil. Full ownership of Minzhong

Employees of Shanghai Husi Are Officially Laid Off Following July’s Expired Meat Scandal

OSI China announced wide scale layoffs on Monday [22 September 2014] after it was accused of supplying expired meat to fast-food giants including McDonald’s and Yum! Brands in July [2014]. A total of 340 workers will lose their jobs, including 226 employed by Shanghai Husi Company and 114 contractors to Shanghai Husi, OSI China said

McDonald’s Forecasts a Drop in Revenue in China Over Expired Meat Scandal

McDonald’s Corp, working to resume sales of beef and chicken in China this week after a supplier was accused of repackaging old meat, said the situation is hurting its sales in Asia. “McDonald’s businesses in China, Japan and certain other markets are experiencing a significant negative impact to results,” the US fast-food company said in

Chinese Vegetable Processor Reports Declining Revenue

China Minzhong Food Corporation, an integrated vegetable processing company based in China, released its third quarter results on Tuesday. Market watchers will remember that China Minzhong was embroiled in controversy over short-seller Glaucus Research Group’s acquisitions last August that the vegetable processor had been engaged in financial impropriety…Full Article: Fresh Plaza Apr 2014 Key point

Indonesia’s Largest Noodle Maker Looks to Increase its Share of China Minzhong Amid Allegations of a Misleading Report by a U.S.-based Short Seller

Indonesia’s PT Indofood Sukses Makmur Tbk has launched an offer for Singapore-listed China Minzhong at S$1.12 per share, valuing the company at around S$734 million. In a filing with the Singapore Exchange, Indofood said it now owns, controls or has agreed to acquire around 33.49 per cent of Minzhong. This comes after the company agreed

Indonesian Food Company Increase its Stake in Chinese Vegetable Processor

Indofood Sukses Makmur, part of the Salim Group, has upped its stake in China Minzhong Food Corporation, China’s leading integrated vegetable processor, via a Sg$105 million (US$85 million) share purchase. “The share purchase was done through the Singapore Exchange,” said Werianty Setiawan, a director at Indofood, in a press statement on Friday [March 1, 2013]…Full-text

Indonesian Food Company Acquires Stake in Chinese Vegetable Processor

PT Indofood Sukses Makmur Tbk [leading Indonesian food company] has agreed to acquire 14.9% stake in China Minzhong Food Corporation Limited (CMFC), a China-based fresh vegetable processor. Under an agreement signed by both companies, CMFC would issue 98 million new shares, of which 14.95% would be acquired by Indofood. At an average price of US$1.0159