Food FDI investment trend
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The document analyzes 103 foreign direct investment projects in the food and tobacco sectors by companies from Latin America and the Caribbean between 2003 and 2012. It found that: 1) Projects peaked in 2011 with 18 projects announced that year creating nearly 4,000 jobs and investing $791 million. 2) The top 10 investors accounted for 40% of projects and almost half the total jobs and capital investment. 3) Manufacturing was the largest business activity with 65% of projects and accounting for over 16,000 jobs and $3.36 billion in investment.
Food FDI investment trend
- 1. Food Trend January 2003 to June 2012
- 2. Food Trend January 2003 to June 2012 Contents Introduction 1 Executive Summary 2 Key Trends 3 Companies 5 Industry Analysis: Business Activity 7 Source Countries 8 Source Cities 9 Destination Countries 10 Destination Cities 11 Project Profiles 12 Introduction The report examines foreign direct Headline figures investment (FDI) trends by all companies No of FDI projects 103 from Latin America & Caribbean investing in the food & tobacco sector between Total jobs created 18,688 January 2003 and June 2012. Average project size (jobs) 181 Total capital investment USD 3,981.21 m The report includes estimated values on capital investment and the number of jobs Average project size USD 38.70 m created in cases where information was not available at project announcement. Retail and inter-state projects are excluded from this report. 19 June 2012 Page: 1
- 3. Food Trend January 2003 to June 2012 Executive Summary FDI projects peaked in 2011 Some 18 projects, or 17.5% of projects, were recorded in 2011. This was the year in which the highest numbers of projects were recorded. During this period a total of 3,936 jobs were created and USD 791.30 million capital was invested by these projects, equating to a 21.1% and 19.9% of total jobs and capital investment respectively. Key investors account for two-fifths of projects. The top 10% of investors have created a total of 41 projects, 40% of the total projects. These investors have created a combined total of 8,774 jobs, which equates to almost half of the overall total. The combined capital investment from these companies reached USD 1.87 billion, equating to almost half of the total for all companies. Manufacturing is top business activity with almost two-thirds of projects. Out of a total of six business activities, Manufacturing accounted for 65% of projects. Project volume in this business activity peaked during 2010, with 11 projects tracked. Total jobs creation and capital investment in this business activity was 16,028 jobs and USD 3.36 billionrespectively. Largest projects originate in Mexico With an average project size of USD 46.70 million, projects originating in Mexico are approximately 1.2 times larger than the average across all source countries. Ranked second in overall projects recorded with 29 in total, Mexico created a total of 6,648 jobs and USD 1.35 billion capital investment. Top five destinations attract almost half of projects. Out of a total of 33 destination countries, the top five account for almost half of projects. United States is the top destination country accounting for one-fifth of projects tracked. Total investment into United States resulted in the creation of 2,842 jobs and USD 562.20 million capital investment, equating to an average of 135 jobs and USD 26.80 million investment per project. 19 June 2012 Page: 2
- 4. Food Trend January 2003 to June 2012 Key FDI Trends Between January 2003 and June 2012 a total of 103 FDI projects were recorded. These projects represent a total capital investment of USD 3.98 billion, which is an average investment of USD 38.70 million per project. During the period, a total of 18,688 jobs were created. The largest number of projects was announced in 2011, with 18 projects that year. Average capital investment peaked in 2008, while average job creation peaked in 2006. Headline FDI trends by year Jobs created Capital investment Number of % growth Year projects per annum Total (USD Average Total Average m) (USD m) 2012 6 n/a 442 73 111.70 18.60 2011 18 5.9 3,936 218 791.30 44.00 2010 17 54.5 2,259 132 431.40 25.40 2009 11 37.5 1,608 146 517.70 47.10 2008 8 n/a 1,880 235 641.80 80.20 2007 14 133.3 2,400 171 386.40 27.60 2006 6 n/a 2,153 358 338.40 56.40 2005 6 n/a 1,015 169 200.00 33.30 2004 10 42.9 2,328 232 420.10 42.00 2003 7 n/a 667 95 142.40 20.30 Total 103 n/a 18,688 181 3,981.20 38.70 Source: fDi Intelligence from The Financial Times Ltd When allocated into bands, projects creating 100 jobs or more represent the majority of projects, while projects creating between 25 and 49 jobs represent more than one-fifth of projects. Number of FDI projects by jobs created and year 2012 4 1 1 2011 1 1 1 15 2010 3 1 3 2 8 2009 4 1 1 5 2008 2 3 3 2007 3 1 1 9 2006 1 5 2005 1 1 4 2004 1 1 1 1 6 2003 3 1 1 2 9 or less 10 to 24 25 to 49 50 to 74 75 to 99 100 or more Source: fDi Intelligence from The Financial Times Ltd 19 June 2012 Page: 3
- 5. Food Trend January 2003 to June 2012 In terms of project type, 86.4% of Number of projects by type projects are greenfield investments. Greenfield projects have an average capital investment of USD 40.70 million and job creation of 184 per project. Greenfield 12 2 Expansion The average capital investment for expansion and co-location is USD 24.60 89 Co-location million and USD 31.00 million respectively. The average number of jobs created in these project types is Source: fDi Intelligence from The Financial Times Ltd 179 and 40 respectively. 19 June 2012 Page: 4
- 6. Food Trend January 2003 to June 2012 Companies A total of 51 companies from Latin America & Caribbean invested in food & tobacco sectors between January 2003 and June 2012, out of a total 38,879 companies investing in FDI globally. Number of companies by year and percentage of all companies 0,1% 0,1% 0,1% 0,1% 0,1% 0,1% 0,1% 13 13 12 6 6 6 6 7 4 0,0% 0,0% 0,0% 4 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 No of Companies % of Companies Source: fDi Intelligence from The Financial Times Ltd The top 10 companies accounted for a combined total of 55 projects (53.4% of projects). Within the past 12 months, six of the top 10 companies have announced projects, with Marfrig being the top investor for this period with seven projects. Top 10 companies: number of projects % of Projects No of Global Company name Source country global in last 12 projects projects* projects** mths Marfrig Brazil 11 11 100 7 Gruma Mexico 10 10 100 1 Arcor Group Argentina 7 7 100 2 Grupo Bimbo Mexico 7 7 100 1 JBS Brazil 6 8 75 0 Gloria Peru 3 3 100 0 Sadia Brazil 3 3 100 0 Alpina Productos Alimenticios Colombia 3 3 100 0 Sopraval Chile 3 3 100 3 BRF Brasil Foods Brazil 2 2 100 2 *Total number of projects worldwide from the company regardless of report criteria. ** The share of global projects from the company which match report criteria. Source: fDi Intelligence from The Financial Times Ltd 19 June 2012 Page: 5
- 7. Food Trend January 2003 to June 2012 The top 10 companies account for 59.9% of job creation and 61.3% of capital investment. Top 10 Companies: Jobs Created and Capital Investment Jobs created Capital investment Company Name Average Total Average Total per (USD m) (USD m) project Marfrig 1,513 137 400.10 36.40 Gruma 3,686 368 757.80 75.80 Arcor Group 1,370 195 275.30 39.30 Grupo Bimbo 785 112 163.30 23.30 JBS 1,420 236 275.50 45.90 Gloria 993 331 151.80 50.60 Sadia 562 187 166.30 55.40 Alpina Productos Alimenticios 362 120 61.90 20.60 Sopraval 123 41 31.40 10.50 BRF Brasil Foods 386 193 158.60 79.30 Source: fDi Intelligence from The Financial Times Ltd In terms of company size, almost half of companies have an annual turnover of USD 5.00 billion or higher. Size of companies by turnover 1 3 USD 5.00 bn or higher 6 USD 1.00 bn to 4.99 bn 22 USD 100.00 m to USD 999.99 m USD 50.00 m to USD 99.99 m USD 25.00 m to USD 49.99 m 14 USD 24.99 m or less Source: fDi Intelligence from The Financial Times Ltd During the period July 2011 to June 2012, 7 projects (58.3%) were announced by 4 companies (50%) that had not previously had a project recorded by fDi Markets since 2003. These investments created a total of 1,097 jobs and generated USD 295.23 million capital investment. 19 June 2012 Page: 6
- 8. Food Trend January 2003 to June 2012 Industry Analysis: Business Activity Out of a total of six business activities, Manufacturing accounts for almost two-thirds of projects. Project volume in this business activity peaked during 2010, with 11 projects tracked. Number of FDI projects by year and business activity 2012 2 4 2011 10 1 6 1 2010 11 2 3 1 2009 5 3 2 1 2008 6 1 1 2007 8 2 2 1 1 2006 5 1 2005 4 1 1 2004 10 2003 6 1 Manufacturing Sales, Marketing & Support Logistics, Distribution & Transportation Headquarters Research & Development Construction Source: fDi Intelligence from The Financial Times Ltd Manufacturing has generated the highest number of total jobs and greatest investment with a total of 16,028 jobs and USD 3.36 billion investment. This business activity also has the largest project size on average in terms of both investment and jobs creation. FDI trends by business activity No of Jobs Created Capital investment Business activity projects Total Average Total Average (USD m) (USD m) Manufacturing 67 16,028 239 3,360.80 50.20 Sales, Marketing & Support 16 919 57 153.40 9.60 Logistics, Distribution & Transportation 14 1,249 89 397.90 28.40 Headquarters 4 288 72 59.00 14.80 Research & Development 1 3 3 0.10 0.10 Construction 1 201 201 10.00 10.00 Total 103 18,688 181 3,981.20 38.70 Source: fDi Intelligence from The Financial Times Ltd 19 June 2012 Page: 7
- 9. Food Trend January 2003 to June 2012 Source Countries Out of a total of 17 source countries, the top five account for the majority of projects. Brazil is the top source country accounting for almost one-third of projects tracked. Project volume in this source country peaked during 2011, with 10 projects tracked. Number of FDI projects by year and source country 2012 1 1 1 3 2011 10 3 1 1 3 2010 7 4 1 1 1 3 2009 1 8 1 1 2008 5 3 2007 3 4 1 4 2 2006 4 1 1 2005 2 2 2 2004 1 1 3 4 1 2003 2 2 1 2 Brazil Mexico Argentina Costa Rica Peru Other source countries Source: fDi Intelligence from The Financial Times Ltd Mexico has generated the highest number of total jobs and greatest investment with a total of 6,648 jobs and USD 1.35 billion investment. This source country also has the largest project size on average in terms of both investment and jobs creation. FDI trends by source country No of No of Jobs Created Capital investment Source country projects companies Total Average Total Average (USD m) (USD m) Brazil 32 17 5,070 158 1,185.60 37.00 Mexico 29 16 6,648 229 1,354.50 46.70 Argentina 9 4 1,446 160 285.40 31.70 Costa Rica 7 5 931 133 137.60 19.70 Peru 6 4 1,074 179 172.20 28.70 Chile 5 3 372 74 53.10 10.60 Colombia 4 2 365 91 62.00 15.50 El Salvador 2 1 409 204 60.90 30.40 Dominican Republic 1 1 121 121 24.60 24.60 Ecuador 1 1 110 110 10.00 10.00 Other source countries 7 7 2,086 298 626.60 89.50 Total 103 61 18,688 181 3,981.20 38.70 Source: fDi Intelligence from The Financial Times Ltd 19 June 2012 Page: 8
- 10. Food Trend January 2003 to June 2012 Source Cities Out of a total of 29 source cities, the top five account for the majority of projects. Sao Paulo is the top source city accounting for one-fifth of projects tracked. Project volume in this source city peaked during 2011, with nine projects tracked. San Pedro Garza García has generated the highest number of total jobs, while Sao Paulo has the highest total investment. Hamilton has the largest project size on average in terms of both investment and jobs creation. FDI trends by source city Capital Projects Companies Jobs Source city Investment Created No % No % (USD m) Sao Paulo 21 20.39 9 14.75 3,394 849.30 San Pedro Garza García 10 9.71 2 3.28 3,686 757.80 Mexico City 9 8.74 6 9.84 950 241.30 Buenos Aires 7 6.80 2 3.28 1,370 275.30 Santiago 5 4.85 3 4.92 372 53.10 Bogotá 4 3.88 2 3.28 365 62.00 Concórdia 3 2.91 1 1.64 562 166.30 Cartago 2 1.94 1 1.64 540 81.80 Heredia 2 1.94 2 3.28 339 46.80 Alajuela 2 1.94 1 1.64 48 8.60 Quatá 2 1.94 1 1.64 30 3.60 Garza Garcia 2 1.94 1 1.64 403 60.50 San Salvador 2 1.94 1 1.64 409 60.90 Lima 2 1.94 2 3.28 75 19.70 Bauru 1 0.97 1 1.64 27 3.50 Cambe 1 0.97 1 1.64 488 70.00 Hamilton 1 0.97 1 1.64 1,367 533.30 Torreón 1 0.97 1 1.64 75 38.10 Culiacan 1 0.97 1 1.64 697 100.00 Guatemala City 1 0.97 1 1.64 270 40.90 Other source cities 9 8.74 9 14.75 1,125 163.50 Not Specified 15 14.56 12 19.67 2,096 344.90 Total 103 100.00 61 100.00 18,688 3,981.20 Source: fDi Intelligence from The Financial Times Ltd 19 June 2012 Page: 9
- 11. Food Trend January 2003 to June 2012 Destination Countries Out of a total of 33 destination countries, the top five account for almost half of projects. United States is the top destination country accounting for one-fifth of projects tracked. Project volume in this destination country peaked during 2010, with five projects tracked. Number of FDI projects by year and destination country 2012 1 1 1 3 2011 3 7 8 2010 5 1 1 1 9 2009 4 1 1 5 2008 1 1 1 1 4 2007 4 1 9 2006 1 1 4 2005 1 1 1 3 2004 1 3 1 5 2003 3 4 United States China Brazil UK Argentina Other destination countries Source: fDi Intelligence from The Financial Times Ltd Brazil has both the highest total and highest average investment at USD 750.50 million overall and USD 107.20 million per project. China has received the highest number of total jobs, while Bolivia has the largest project size with 331 jobs per project on average. FDI trends by destination country No of No of Jobs Created Capital investment Destination country projects companies Total Average Total Average (USD m) (USD m) United States 21 16 2,842 135 562.20 26.80 China 14 7 3,236 231 617.10 44.10 Brazil 7 5 2,221 317 750.50 107.20 UK 4 3 277 69 70.10 17.50 Argentina 3 3 680 226 85.20 28.40 France 3 2 107 35 32.50 10.80 Honduras 3 2 679 226 101.80 33.90 Nicaragua 3 3 975 325 142.00 47.30 Bolivia 3 1 993 331 151.80 50.60 Russia 3 3 943 314 267.20 89.10 Other destination countries 39 38 5,920 151 1,251.70 32.10 Total 103 61 18,688 181 3,981.20 38.70 Source: fDi Intelligence from The Financial Times Ltd 19 June 2012 Page: 10
- 12. Food Trend January 2003 to June 2012 Destination Cities Out of a total of 60 destination cities, the top five account for more than one-eighth of projects. Shanghai is the top destination city accounting for 3.9% of projects tracked Shanghai has received the highest number of total jobs and greatest investment with a total of 999 jobs and USD 169.60 million investment. Seminole (OK) and Hyrum (UT) have the largest project size on average in terms of investment and jobs creation, respectively. FDI trends by destination city Projects Companies Capital Jobs Destination city Investment Created No % No % (USD m) Shanghai 4 3.88 4 6.56 999 169.60 Hong Kong 3 2.91 3 4.92 463 48.60 Beijing 3 2.91 3 4.92 431 94.00 Los Angeles (CA) 2 1.94 2 3.28 450 102.30 Managua 2 1.94 2 3.28 705 101.10 Ipswich 1 0.97 1 1.64 50 22.00 Seminole (OK) 1 0.97 1 1.64 400 60.00 Lakeland (FL) 1 0.97 1 1.64 133 23.00 Arcadia (CA) 1 0.97 1 1.64 121 24.60 Medley (FL) 1 0.97 1 1.64 3 0.50 Lovington (NM) 1 0.97 1 1.64 75 38.10 Not Specifed 1 0.97 1 1.64 17 2.50 Topeka (KS) 1 0.97 1 1.64 50 30.00 Batavia (NY) 1 0.97 1 1.64 50 15.00 Marquise 1 0.97 1 1.64 40 14.50 Marshalltown (IA) 1 0.97 1 1.64 30 40.00 Chimaltenango 1 0.97 1 1.64 54 3.00 Live Oak (FL) 1 0.97 1 1.64 250 1.50 Tegucigalpa 1 0.97 1 1.64 270 40.90 Hyrum (UT) 1 0.97 1 1.64 420 30.00 Other destination cities 40 38.83 40 65.57 5,976 1,419.50 Not Specified 34 33.01 27 44.26 7,701 1,700.50 Total 103 100.00 61 100.00 18,688 3,981.20 Source: fDi Intelligence from The Financial Times Ltd 19 June 2012 Page: 11
- 13. Food Trend January 2003 to June 2012 Project Profiles March 2012 - Arcor Group into India Arcor Group (Buenos Aires, Argentina) is investing in the city of New Delhi, India in the Food & Tobacco sector in a Sales, Marketing & Support project. Argentina-based confectionary manufacturer Arcor has opened its first commercial office in New Delhi, India. The company primarily manufactures confectionary, including candies, lollipops, chewing gum, nougat and marshmallows. Company contact: Luis Alejandro Pagani (Chairman) Jobs Created: 48 (est) Investment: USD 11.70 million (est) FDI project type: Greenfield February 2012 - Agrosuper, a subsidiary of Sopraval into China Agrosuper, a subsidiary of Sopraval (Santiago, Chile) is investing in the city of Shanghai, China in the Food & Tobacco sector in a Sales, Marketing & Support project. Agrosuper, a fresh meat producer, has opened a representative office in Shanghai, China. Agrosuper specialises in the production of chicken, pork, turkey, salmon and processed foods. Company contact: Gonzalo Vial (Founder, Agrosuper) Jobs Created: 48 (est) Investment: USD 11.70 million (est) FDI project type: Greenfield February 2012 - Agrosuper, a subsidiary of Sopraval into Hong Kong Agrosuper, a subsidiary of Sopraval (Santiago, Chile) is investing in the city of Hong Kong, Hong Kong in the Food & Tobacco sector in a Sales, Marketing & Support project. Agrosuper, a fresh meat producer, has opened a subsidiary in Hong Kong. The new company will seek to increase the company's presence in the Asian market. Agrosuper specialises in the production of chicken, pork, turkey, salmon and processed foods. Company contact: Gonzalo Vial (Founder, Agrosuper) Jobs Created: 48 (est) Investment: USD 11.70 million (est) FDI project type: Greenfield February 2012 - Agrosuper, a subsidiary of Sopraval into Brazil Agrosuper, a subsidiary of Sopraval (Santiago, Chile) is investing in Brazil in the Food & Tobacco sector in a Sales, Marketing & Support project. Agrosuper, a fresh meat producer, has opened a subsidiary in Brazil. The new company will focus on the marketing the company's meat products for the domestic market. Agrosuper specialises in the production of chicken, pork, turkey, salmon and processed foods. Company contact: Gonzalo Vial (Founder, Agrosuper) 19 June 2012 Page: 12
- 14. Food Trend January 2003 to June 2012 Jobs Created: 27 (est) Investment: USD 8.00 million (est) FDI project type: Greenfield January 2012 - Plusfood, a subsidiary of BRF Brasil Foods into Netherlands Plusfood, a subsidiary of BRF Brasil Foods (Sao Paulo, Brazil) is investing in Netherlands in the Food & Tobacco sector in a Manufacturing project. Processed food and food product manufacturing company Plusfood, a subsidiary of BRF Brasil Foods, has opened a new production facility in Oosterwolde, Netherlands to supply products to both retail and food service customers in the UK and European markets. Company contact: Simon Bloys (General Manager (UK and Ireland), Plusfood) Jobs Created: 62 (est) Investment: USD 38.60 million (est) FDI project type: Greenfield January 2012 - Grupo Bimbo into Argentina Grupo Bimbo (Mexico City, Mexico) is investing in the city of Cordoba, Argentina in the Food & Tobacco sector in a Manufacturing project. Mexico-based bakery company Grupo Bimbo is investing $30m in a new plant in Cordoba, Argentina. The development of the facility will generate 450 new jobs and the factory will begin operations in January 2013. The plant will produce the traditional Bimbo, Fargo y Lactal bread brands. Company contact: Sebastian Reynoso (Chief Executive Officer (Argentina)) Jobs Created: 209 (est) Investment: USD 30.00 million FDI project type: Greenfield December 2011 - Central American Bottling Corporation into Trinidad & Tobago Central American Bottling Corporation (Guatemala City, Guatemala) is investing in Trinidad & Tobago in the Food & Tobacco sector in a Manufacturing project. Guatemala-based Central American Bottling Corporation (CabCorp), a beverage producer, plans to invest $50m in Trinidad & Tobago. A proportion of this amount will be used to establish a sugar refinery and a palm oil and lime plant to serve the Caribbean region. Jobs Created: 270 (est) Investment: USD 40.90 million (est) FDI project type: Greenfield November 2011 - Mission Foods, a subsidiary of Gruma into United States Mission Foods, a subsidiary of Gruma (San Pedro Garza Garcia, Mexico) is investing in the city of Lakeland (FL), United States in the Food & Tobacco sector in a Manufacturing project. Mission Foods, a subsidiary of Mexico-based Gruma, is set to open a 15,645 sq m plant in Lakeland, Florida. The tortilla manufacturing facility will create 133 jobs and will see a capital investment of $23m. Mission Foods has 15 plants throughout the US. Jobs Created: 133 Investment: USD 23.00 million 19 June 2012 Page: 13
- 15. Food Trend January 2003 to June 2012 FDI project type: Greenfield October 2011 - Dos en Uno, a subsidiary of Arcor Group into Chile Dos en Uno, a subsidiary of Arcor Group (Buenos Aires, Argentina) is investing in the city of Santiago, Chile in the Food & Tobacco sector in a Manufacturing project. Confectionary manufacturer Dos en Uno, a subsidiary of Argentina-based Arcor, will invest $40m to build new plant in Chile. The factory will be located in Santiago and its construction will be completed in December 2014. Dos en Uno primarily manufactures candy products. Jobs Created: 279 (est) Investment: USD 40.00 million FDI project type: Greenfield August 2011 - BRF Brasil Foods into UAE BRF Brasil Foods (Sao Paulo, Brazil) is investing in UAE in the Food & Tobacco sector in a Manufacturing project. Food processing company Brasil Foods is to invest $120m to set up a plant in the United Arab Emirates. The new factory will be able to process 80,000 tonnes of products per year, including hamburgers, pizzas, and frozen pies. It is expected to be operational at the end of 2012. Jobs Created: 324 (est) Investment: USD 120.00 million FDI project type: Greenfield August 2011 - Union De Initiative into Nigeria Union De Initiative (Mexico) is investing in Nigeria in the Food & Tobacco sector in a Manufacturing project. Mexico-based Union De Initiative will establish a banana plantation in Rivers State, Nigeria, as part of a joint venture with the state government. The partners will invest N10bn in the project, with Union De Initiative contributing 60% and the state contributing 40%. Company contact: Gabriel Airedondo (Representative) Jobs Created: 318 (est) Investment: USD 64.33 million FDI project type: Greenfield July 2011 - Molinos de El Salvador (Molsa) into Honduras Molinos de El Salvador (Molsa) (San Salvador, El Salvador) is investing in the city of San Pedro Sula, Honduras in the Food & Tobacco sector in a Manufacturing project. El Salvador-based Grupo Molsa, a company that specialises in wheat flour for the baking industry, has announced a $20m investment in San Pedro Sula, Honduras for the construction of a flour mill. Jobs Created: 139 (est) Investment: USD 20.00 million FDI project type: Greenfield 19 June 2012 Page: 14
- 16. Food Trend January 2003 to June 2012 May 2011 - Sukarne, a subsidiary of Grupo Viz into Nicaragua Sukarne, a subsidiary of Grupo Viz (Culiacan, Mexico) is investing in the city of Managua, Nicaragua in the Food & Tobacco sector in a Manufacturing project. Mexican meat products supplier Sukarne has established a $100m livestock facility in Managua, Nicaragua. The new facility includes 10 feed storage centres, a slaughterhouse, and boning plant. It is equipped with fattening corrals for 50,000 head of cattle. The project was financed by the world's largest livestock bank, Rabobank of Holland. Company contact: Jesus Vizcarra Calderon (Chairman, Board of Directors) Jobs Created: 697 (est) Investment: USD 100.00 million FDI project type: Greenfield April 2011 - Florexpo into Spain Florexpo (Paraiso, Costa Rica) is investing in the city of Madrid, Spain in the Food & Tobacco sector in a Headquarters project. Costa Rica-based Florexpo, a producer of unrooted cuttings, has invested E300,000 and created four new jobs with the opening of European headquarters in Madrid, Spain. Jobs Created: 4 Investment: USD 0.40 million FDI project type: Greenfield April 2011 - Keystone Foods, a subsidiary of Marfrig into China Keystone Foods, a subsidiary of Marfrig (Sao Paulo, Brazil) is investing in the city of Wuhan, China in the Food & Tobacco sector in a Logistics, Distribution & Transportation project. Brazil-based Marfrig, through its subsidiary Keystone Foods will enter into a new joint venture called "Cofco Keystone Foods Supply Chain (China)" with China-based Cofco, an oils and food import/exporter. With operations projected to start in 2012, the new company will open six distribution centres in Beijing, Shenzhen, Chengdu, Shanghai, Shenyang and Wuhan. The new company will explore business opportunities in food logistics and distribution services in China. The total investment in the JV is estimated at $252m over 10 years. Jobs Created: 140 (est) Investment: USD 46.20 million (est) FDI project type: Greenfield April 2011 - Keystone Foods, a subsidiary of Marfrig into China Keystone Foods, a subsidiary of Marfrig (Sao Paulo, Brazil) is investing in the city of Shenyang, China in the Food & Tobacco sector in a Logistics, Distribution & Transportation project. Brazil-based Marfrig, through its subsidiary Keystone Foods will enter into a new joint venture called "Cofco Keystone Foods Supply Chain (China)" with China-based Cofco, an oils and food import/exporter. With operations projected to start in 2012, the new company will open six distribution centres in Beijing, Shenzhen, Chengdu, Shanghai, Shenyang and Wuhan. The new company will explore business opportunities in food logistics and distribution services in China. The total investment in the JV is estimated at $252m over 10 years. 19 June 2012 Page: 15
- 17. Food Trend January 2003 to June 2012 Jobs Created: 140 (est) Investment: USD 46.20 million (est) FDI project type: Greenfield April 2011 - Keystone Foods, a subsidiary of Marfrig into China Keystone Foods, a subsidiary of Marfrig (Sao Paulo, Brazil) is investing in the city of Shanghai, China in the Food & Tobacco sector in a Logistics, Distribution & Transportation project. Brazil-based Marfrig, through its subsidiary Keystone Foods will enter into a new joint venture called "Cofco Keystone Foods Supply Chain (China)" with China-based Cofco, an oils and food import/exporter. With operations projected to start in 2012, the new company will open six distribution centres in Beijing, Shenzhen, Chengdu, Shanghai, Shenyang and Wuhan. The new company will explore business opportunities in food logistics and distribution services in China. The total investment in the JV is estimated at $252m over 10 years. Jobs Created: 140 (est) Investment: USD 46.20 million (est) FDI project type: Greenfield April 2011 - Keystone Foods, a subsidiary of Marfrig into China Keystone Foods, a subsidiary of Marfrig (Sao Paulo, Brazil) is investing in the city of Shenzhen, China in the Food & Tobacco sector in a Logistics, Distribution & Transportation project. Brazil-based Marfrig, through its subsidiary Keystone Foods will enter into a new joint venture called "Cofco Keystone Foods Supply Chain (China)" with China-based Cofco, an oils and food import/exporter. With operations projected to start in 2012, the new company will open six distribution centres in Beijing, Shenzhen, Chengdu, Shanghai, Shenyang and Wuhan. The new company will explore business opportunities in food logistics and distribution services in China. The total investment in the JV is estimated at $252m over 10 years. Jobs Created: 140 (est) Investment: USD 46.20 million (est) FDI project type: Greenfield April 2011 - Keystone Foods, a subsidiary of Marfrig into China Keystone Foods, a subsidiary of Marfrig (Sao Paulo, Brazil) is investing in the city of Chengdu, China in the Food & Tobacco sector in a Logistics, Distribution & Transportation project. Brazil-based Marfrig, through its subsidiary Keystone Foods will enter into a new joint venture called "Cofco Keystone Foods Supply Chain (China)" with China-based Cofco, an oils and food import/exporter. With operations projected to start in 2012, the new company will open six distribution centres in Beijing, Shenzhen, Chengdu, Shanghai, Shenyang and Wuhan. The new company will explore business opportunities in food logistics and distribution services in China. The total investment in the JV is estimated at $252m over 10 years. Jobs Created: 140 (est) Investment: USD 46.20 million (est) FDI project type: Greenfield 19 June 2012 Page: 16
- 18. Food Trend January 2003 to June 2012 April 2011 - Keystone Foods, a subsidiary of Marfrig into China Keystone Foods, a subsidiary of Marfrig (Sao Paulo, Brazil) is investing in China in the Food & Tobacco sector in a Manufacturing project. Brazil-based Marfrig's subsidiary Keystone Foods and China-based Chinwhiz, have entered into a joint venture called "Keystone-Chinwhiz Poultry Vertical Integration", with 60% of the new company belonging to the Brazilian company and 40% belonging to the Chinese investor. The new company will establish vertical integration in poultry operations in China and will initially have capacity to process 200,000 birds per day. The investment in the JV is estimated at $57m by the end of 2013. Jobs Created: 435 (est) Investment: USD 57.00 million FDI project type: Greenfield April 2011 - Keystone Foods, a subsidiary of Marfrig into China Keystone Foods, a subsidiary of Marfrig (Sao Paulo, Brazil) is investing in the city of Beijing, China in the Food & Tobacco sector in a Logistics, Distribution & Transportation project. Brazil-based Marfrig, through its subsidiary Keystone Foods will enter into a new joint venture called "Cofco Keystone Foods Supply Chain (China)" with China-based Cofco, an oils and food import/exporter. With operations projected to start in 2012, the new company will open six distribution centres in Beijing, Shenzhen, Chengdu, Shanghai, Shenyang and Wuhan. The new company will explore business opportunities in food logistics and distribution services in China. The total investment in the JV is estimated at $252m over 10 years. Jobs Created: 140 (est) Investment: USD 46.20 million (est) FDI project type: Greenfield March 2011 - Alpina Productos Alimenticios into United States Alpina Productos Alimenticios (Bogota, Colombia) is investing in the city of Batavia (NY), United States in the Food & Tobacco sector in a Manufacturing project. Colombian dairy producer Alpina is to establish a $15m yoghurt manufacturing facility in Batavia, New York, US creating 50 jobs. The facility will make the entire portfolio of the company's products, with two specifically focussed on the Hispanic market and the other on the Anglo market. The company plans to invest a total of $50m in 2011, part of which will be used to construct the manufacturing facility. "The United States is a big market. With regards to yoghurt it is an emerging market, where the per capita consumption of the product is less than in other countries, which gives great opportunities" said Julian Jaramillo, president. Company contact: Julian Jaramillo (President) Jobs Created: 50 Investment: USD 15.00 million FDI project type: Greenfield March 2011 - Jaguacy into Netherlands Jaguacy (Bauru, Brazil) is investing in Netherlands in the Food & Tobacco sector in a Sales, Marketing & Support project. 19 June 2012 Page: 17
- 19. Food Trend January 2003 to June 2012 Brazil-based fruit exporter has set up a new European sales office in the Netherlands. The company, a producer of fuerte and hass avocado, has already begun selling in Europe although its facility is still under construction. Company contact: Ron Jongejan (Director (Netherlands)) Jobs Created: 27 (est) Investment: USD 3.50 million (est) FDI project type: Greenfield February 2011 - JBS USA Holdings, a subsidiary of JBS into United States JBS USA Holdings, a subsidiary of JBS (Sao Paulo, Brazil) is investing in the city of Hyrum (UT), United States in the Food & Tobacco sector in a Manufacturing project. JBS USA Holdings plans to invest over $30m into opening a new, more extensive meat packing and processing plant in Hyrum, Utah. The Utah legislature has approved up to $1.8m in incentives to aid the company with the expansion. It will add 420 new full-time positions over the next five years. JBS distributes various meats to over 60 countries across the world. Company contact: Jerry Petersen (Director, Operations) Jobs Created: 420 Investment: USD 30.00 million FDI project type: Expansion March 2012 - Arcor Group into India Arcor Group (Buenos Aires, Argentina) is investing in the city of New Delhi, India in the Food & Tobacco sector in a Sales, Marketing & Support project. Argentina-based confectionary manufacturer Arcor has opened its first commercial office in New Delhi, India. The company primarily manufactures confectionary, including candies, lollipops, chewing gum, nougat and marshmallows. Company contact: Luis Alejandro Pagani (Chairman) Jobs Created: 48 (est) Investment: USD 11.70 million (est) FDI project type: Greenfield February 2012 - Agrosuper, a subsidiary of Sopraval into China Agrosuper, a subsidiary of Sopraval (Santiago, Chile) is investing in the city of Shanghai, China in the Food & Tobacco sector in a Sales, Marketing & Support project. Agrosuper, a fresh meat producer, has opened a representative office in Shanghai, China. Agrosuper specialises in the production of chicken, pork, turkey, salmon and processed foods. Company contact: Gonzalo Vial (Founder, Agrosuper) Jobs Created: 48 (est) Investment: USD 11.70 million (est) FDI project type: Greenfield February 2012 - Agrosuper, a subsidiary of Sopraval into Hong Kong 19 June 2012 Page: 18
- 20. Food Trend January 2003 to June 2012 Agrosuper, a subsidiary of Sopraval (Santiago, Chile) is investing in the city of Hong Kong, Hong Kong in the Food & Tobacco sector in a Sales, Marketing & Support project. Agrosuper, a fresh meat producer, has opened a subsidiary in Hong Kong. The new company will seek to increase the company's presence in the Asian market. Agrosuper specialises in the production of chicken, pork, turkey, salmon and processed foods. Company contact: Gonzalo Vial (Founder, Agrosuper) Jobs Created: 48 (est) Investment: USD 11.70 million (est) FDI project type: Greenfield 19 June 2012 Page: 19
- 21. Food Trend January 2003 to June 2012 About this Report Disclaimer: This report was automatically created by fDi Markets using the criteria selected by the user. Whilst care has been taken in programming the analysis and presentation of data, abnormalities may occur. The Financial Times Ltd accepts no responsibility for the accuracy or otherwise of the content. All investment project data and information is based on public information on company investment announcements. The Financial Times Ltd accepts no responsibility or otherwise for the accuracy of the data and information, nor does The Financial Times Ltd claim to track all investment projects. Jobs data and capital investment data, if included, are not recorded for all projects and may include estimates. The Financial Times Ltd takes no responsibility for the accuracy or otherwise of the jobs and investment data. The default currency used to record capital investment amounts is millions of US Dollars (USD). If the user has selected an alternative currency, the amounts stated are converted from US Dollars to the chosen currency using a conversion reference table. This table is periodically updated from published exchange rates. The Financial Times Ltd does not accept responsibility or otherwise for variances that occur between published exchange rates and the currency reference table used. If you have any queries on the content of this report, please contact your designated account manager using the facility provided within the fDi Markets system. 19 June 2012 Page: 20