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CJ partners with Asia’s largest grain company

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CJ partners with Asia’s largest grain company

 

 

 

CJ and Asia’s largest grain company, China’s 北大荒 Group, jointly established a grain processing business in Harbin. With its launch, CJ can now secure grain resources from abroad and announced its genuine intent to expand into the global food market. Expected to be launched on the 11th of this month, CJ and 北大荒 Group’s official name of the joint venture grain processing business is “CJ & HACL FOODTECH.” 北大荒’s share of the investment is 51% whereas it is 40% for CJ. CJ will be undertaking key management tasks for the company. The two companies have invested a total of 32.2 billion Won for establishment of this joint venture. CJ & HACL FOODTECH will be producing 14,000 tons of rice bran proteins, brown rice oil, and dietary fibers annually. They also plan to strengthen cooperative efforts on beans, corn and other grains. CJ anticipates that CJ’s technical expertise, such as rice bran protein extraction technology, the first of its kind, and brown rice oil processing, combined with 北大荒’s stable supply of resources will enable them into global market expansion to the United States, Europe and other countries around the world.