MANILA, Philippines – Cargill continued its international investment on Nov. 28 with the announcement of plans for a $235 million expansion in the Philippines over the next two years.
The company said the investment would meet the increased domestic demand for chicken and pork along with delivering solutions in key areas of the global agricultural supply chain. Cargill will also support the growth of Cargill Joy Poultry Meats Production Inc. (C-Joy), a joint venture between Cargill and Jollibee Foods Corp. (JFC) that was finalized in 2017.
“We are proud to have been in the Philippines since we started our business here 70 years ago,” said Dave MacLennan, chairman and CEO of Cargill. “Working closely with the government, our customers, partners and the community, we are helping farmers thrive and are bringing safe and nutritious food to Filipino tables. We are grateful for our partnership with the Philippines government as they welcome investments that enable Cargill to grow alongside the Filipino people and the local economy.”
Cargill employs 2,200 workers across 27 locations in the Philippines.
The company also plans to contribute $130,000 to support the Inclusive Business Capacity Building Fund. The fund is set up to help Filipino farmers become more successful.
While in Southeastern Asia this week, MacLennan and Cargill also announced a $70 million investment in the company’s poultry and seafood business in Thailand.