OREANDA-NEWS. May 26, 2016. Jollibee Foods Corporation (“JFC”), the largest Asian food service company, and Cargill Philippines, Inc. (“Cargill Philippines”), a wholly owned subsidiary of Cargill Inc. (“Cargill”), have entered into an agreement to build and operate a poultry processing plant in Santo Tomas, Batangas, in the Philippines. Cargill and JFC will have a 70% and a 30% stake respectively in the joint venture Cargill Joy Poultry Meats Production, Inc.  Cargill will oversee the setting up, management and operations of this facility.

The partnership will create an estimated 1,000 new full time jobs and develop new opportunities in the farming community in the Batangas and nearby provinces as local poultry farmers are contracted to grow chicken to supply the requirements of the processing plant.

JFC Chief Executive Officer, Mr. Ernesto Tanmantiong gave the following statement: "We partnered with Cargill to deliver high quality chicken products through Cargill's technology and quality standards.  The facility will provide JFC with dressed and marinated chicken to augment the chicken supply requirements of the growing needs of JFC brands.  This partnership will meaningfully benefit our customers, our operations as well as the overall Philippine food industry.  We will continue to maintain our strong relationship with key chicken suppliers in the country and look forward to sustained long term supply arrangements with them as our businesses grow together.”

Cargill Joy Poultry Meats Production, Inc. Managing Director, Mr. Paul Fullbright gave the following statement: "Cargill is making additional investments in the Philippines to participate in the robust growth of its consumer sector. Cargill can contribute in further enhancing the quality of products of JFC brands for its customers at very competitive costs and raise the assurance of its chicken supply. As in many other parts of the world where we do business, Cargill can also contribute in improving the system of hygiene, food safety, and quality by operating a world class facility and by setting high level of partnership ?with the poultry growers and farmers. We look forward to a very productive poultry processing venture in the Philippines and with JFC."

JFC will invest Php244.9 million for 30% of Cargill Joy Poultry Meats Production, Inc.  JFC will also invest Php15.2 million for 30% of Cargill Joy Poultry Realty, Inc., from which Cargill Joy Poultry Meats Production, Inc. will lease the land on which the plant will be located.