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Semi refined carraggeenan taken from the lab of W
Hydrocolloids.
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07 Sep 2016 --- W Hydrocolloids, Inc. (WHI), a pioneer in
the Philippine seaweed industry and a front runner in food ingredients and
systems innovation worldwide under the brand Rico Carrageenan, has acquired the
seaweed processing facility of Kerry Food Ingredients Cebu Inc. (Kerry) located
in Barangay Tabok, Mandaue City, Cebu, in central Philippines.
WHI acquired 100% of the assets used to process carrageenan
chips from local seaweed. With this acquisition, WHI now has a total of three
fully-owned seaweed processing facilities around the Philippines located in
Carmona (Luzon), Carmen (Visayas), and Mandaue (Visayas), and a joint venture
with Cargill in Canlubang (Luzon) for the manufacturing of fully refined
carrageenan, the first fully automated carrageenan facility in Asia.
Along with this agreement and expansion, the acquisition
also ensures that this seaweed processing facility will continue to provide
economic stability to and support thousands of seaweed farmers, directly and
indirectly, located all over the Philippines to uplift livelihood – an
initiative that the company has always accounted from the beginning of its
business.
WHI Chairman, Mr. Wee Lee Hiong acknowledges the vast
potential of this industry in the international market despite the unstable
world economy. “Striving to be the best carrageenan producer, WHI intends to be
the market leader in the carrageenan-based food ingredient market. This
acquisition brings us closer to this goal. This partnership with Kerry also
aims to unlock shareholder value to both companies in these challenging market
conditions,” he said.
The acquisition will enable the company to provide to the
increasing demand for food ingredients across the globe as well as create a
more efficient production system to exceed client expectations. With the
additional production facility, WHI will be able to widen its product line to
cater to the demanding international market.
07 Sep 2016 --- W Hydrocolloids, Inc. (WHI), a pioneer in
the Philippine seaweed industry and a front runner in food ingredients and
systems innovation worldwide under the brand Rico Carrageenan, has acquired the
seaweed processing facility of Kerry Food Ingredients Cebu Inc. (Kerry) located
in Barangay Tabok, Mandaue City, Cebu, in central Philippines.
WHI acquired 100% of the assets used to process carrageenan
chips from local seaweed. With this acquisition, WHI now has a total of three
fully-owned seaweed processing facilities around the Philippines located in
Carmona (Luzon), Carmen (Visayas), and Mandaue (Visayas), and a joint venture
with Cargill in Canlubang (Luzon) for the manufacturing of fully refined
carrageenan, the first fully automated carrageenan facility in Asia.
Along with this agreement and expansion, the acquisition
also ensures that this seaweed processing facility will continue to provide
economic stability to and support thousands of seaweed farmers, directly and
indirectly, located all over the Philippines to uplift livelihood – an
initiative that the company has always accounted from the beginning of its
business.
WHI Chairman, Mr. Wee Lee Hiong acknowledges the vast
potential of this industry in the international market despite the unstable
world economy. “Striving to be the best carrageenan producer, WHI intends to be
the market leader in the carrageenan-based food ingredient market. This
acquisition brings us closer to this goal. This partnership with Kerry also
aims to unlock shareholder value to both companies in these challenging market
conditions,” he said.
The acquisition will enable the company to provide to the
increasing demand for food ingredients across the globe as well as create a
more efficient production system to exceed client expectations. With the
additional production facility, WHI will be able to widen its product line to
cater to the demanding international market.
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