CPF to invest in expansion set for 2013

Charoen Pokphand Foods (CPF) has set aside an investment budget of Bt15 billion for 2013 and targets total sales of Bt400 billion, up 14% from estimated total sales of Bt350 billion this year.

The company's CEO, Adirek Sripratak, said that 55%of its total sales would come from investments overseas, about 36-37% from the domestic market and 7-8% from the export market. This is a part of its business plan to boost sales to Bt600 billion in 2015.

Of the company's investment plan for 2013, 60% will be for expansion in 12 countries where the company is already invested in and 40% will be for the domestic market. Most of its investment in 2013 will be on existing projects at home and abroad, he said.

"Currently, we have investments in all strategic countries, including the Asean Economic Community (AEC) countries, as a result we will not invest in a new country. We will spend the budget to develop our existing projects in 12 countries and in the domestic market," he said.

He added that in 2013, the company also plans to acquire two businesses for which negotiations are on. If the deals are concluded, the company's total sales will increase more than estimated. He declined to reveal the names of the business.

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