26 May 2008 - Shandong-based animal feed and condiment producer China Food Company Plc, formerly known as Vestpa, is confident of a successful 2008 despite Chinese inflationary concerns.
In an announcement to the London Stock Exchange, the company said it expects the investment it is currently making in a new soy sauce facility will have a significant positive impact upon the Group in 2009 and beyond.
The new facility will be located in Shou Guang City and will cater for increased demand, which the company cannot cater for as its already operating at full capacity.
“Construction is expected to be completed in mid 2008 when the new site will become the Full Fortune Group’s corporate headquarters and Fu-Rich will re-locate its soya sauce production to a new purpose built plant, thereby improving capacity for vinegar and bean paste production at the existing Weifang City facility. The new plant will increase Fu-Rich’s production capacity by 50 per cent. from 100,000 to 150,000 tonnes per annum”, the company said in a statement.