Thai Union Manufacturing has joined hands with Nippon Suisan Kaisha of Japan to produce high-grade tuna oil in Thailand.
Utilising state-of-the-art technologies, the new venture is the first in Thailand that is capable of manufacturing high-grade ingredients suitable for baby formulas. Besides creating more value-added products, the advanced technology will also help reduce material wastes from Thai Union Group's main seafood production lines.
Thai Union Manufacturing is a subsidiary of Thai Union Frozen Products, the country's leading seafood and tuna manufacturer and exporter, while Nippon Suisan Kaisha is a leading Japanese seafood company.
The plant is located at Samut Sakhon, TUF's manufacturing-based area.
TUF president Thiraphong Chansiri said yesterday that it has to set up TN Fine Chemicals to facilitate the joint venture operation. With registered capital of Bt90 million, the Japanese partner holds the majority stake of 51 per cent and TUF handles the remainder.
The new firm aims to develop seafood by-products into fine chemical products that can be used as ingredients in dietary supplements and pharmaceutical products.
While Thailand is a major seafood producer, the country is also the world's No 1 manufacturer and exporter of processed tuna.
Thai Union Group believes that seafood by-products have significant potential for further development into high value-added products.
TN Fine Chemicals plans to invest more than Bt80 million in equipment and machinery based on production technologies that have never been used in Thailand before.
The first phase of production will begin with tuna oil products. The firm aims to produce high-grade tuna oil suitable as an ingredient for baby formulas that help enhance brain development in young children.
Besides tuna oil, the joint investment also plans to extract glucosamine from shrimp and crab shells. Glucosamine is a key ingredient in pharmaceutical products for treating arthritis. The chemical can act as a lubricating fluid in human joints.
"These new projects will make better use of waste materials from our main seafood production lines, helping us achieve our environmental objectives, while adding value to these by-products and diversifying our product portfolio," Thiraphong said
At this initial phase, TN Fine Chemicals will produce 540 tonnes of tuna oil per year, with sales expected to exceed Bt125 million. Japan, the US and European Union are key export markets for this product.
This investment represents a significant step in turning Thailand's seafood by-products into high value-added export items with the potential to generate substantial income for the country and promote a more efficient use of natural resources.
TUF's performance for the first three quarters has shown remarkable growth. Net profit rose 39 per cent from the same period a year ago to Bt2.63 billion. Sales reached Bt51.8 billion, or US$1.5 billion. The company is confident that all of its subsidiaries can continue to grow sustainably in sales and profits.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment