Japan’s Meiji to build dairy, sweet plant in China’s Guangzhou
TOKYO, NNA – Major Japanese dairy maker Meiji Co. will open a dairy and sweet products factory in China to further penetrate the world’s most populous country.
Meiji Holdings Co., its parent company, said in a statement on Thursday that Meiji established Meiji Food (Guangzhou) Co. in the southern province of Guangdong the same day for scheduled operation by March 2024.
The new entity with 1.2 billion yuan ($171 million) in capital will produce milk, yogurt and sweets among other items at the plant on a roughly 51,000 square meter site, the statement said.
Meiji, the core unit of the group, will own a 49 percent stake in the local manufacturing unit, while its wholly owned Chinese arm, Meiji China Investment Co., will hold 51 percent, according to the statement.
The Japanese dairy and confectionery group said it has seen stable growth in its milk, yogurt, ice cream, and sweet operations in China. With the new factory, it aims to further expand sales to health-conscious consumers in the world’s second-largest economy.
The Tokyo-based group has a dairy plant in Suzhou in the eastern coastal province of Jiangsu and plans to commence operation of a plant in the northern port city of Tianjin in late 2022 or early 2023. For confectionery, it runs two factories in Shanghai and Guangzhou, according to the statement.
The group also plans to sell sports protein products shipped from its New Zealand factory in China as early as September this year, a Meiji Holdings spokesman told NNA on Thursday.