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CJ CheilJedang

The South Korean company CJ CheilJedang that produces food products, pharmaceuticals and deals with biotechnology intends to increase the sales of frozen Asian pelmeni (dumplings) under the trademark Bibigo Mandu to KRW 1 trillion (USD 855.4 mln) by 2020, Business Korea reports. The company expects to have 70% of sales in foreign markets.

The company plans to increase the existing production facilities in China and the USA and start production in Russia, Vietnam, and Germany. For these purposes it will spend KRW 200 bln (USD 171 mln). CJ CheilJedang plans to achieve the sales level of KRW 130 bln (USD 111.2 mln) in Russia by 2020; the sales volume in South Korea is expected at the level of KRW 315 bln (USD 171 mln), and in the USA of KRW 280 bln (USD 239.5 mln).

The company also reports that it has recently acquired an unnamed Russian producer of frozen food. In Vietnam, the company is making pelmeni at the factory of one of the local producers of frozen food, in Germany it is investing in Mainfrost production facilities.

26 January 2017
milknews.ru
Investor
Saint Petersburg

Investor profile

CJ CheilJedang

South Korea

Company's website: www.cj.co.kr/cj-en

T: +82-2-67401114

Public Company

Contact: Gyeong Sik Son, Co-Chief Executive Officer

The food company CheilJedang withdrew from Samsung Group in 1993. Since then, the company has been expanding its areas of business. First they included pharmaceuticals, biotechnology and chemical industries. In 2002, it was renamed as CJ. Nowadays, it remains the largest Korean bio- and food company and it also became one of the leaders in entertainment and mass media.

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