Tyson Foods acquires 49% stake in Malaysian poultry
Malayan Flour Mills Berhad sells stake in Dindings Supreme Sdn Bhd
Tyson Foods will invest in the Malayan Flour Mills Berhad (Mfm) poultry business, based in Malaysia; an operation that will increase procurement opportunities for both companies. Specifically, MFM declared in Bursa Malaysia the sale of a 49% stake in Dindings Supreme Sdn Bhd to the American multinational. "Once completed, the poultry deal will streamline our existing Malaysian business and expand MFM's poultry business", said Chris Langholz, international president of Tyson Foods. "This partnership will expand the distribution of halal certified poultry to consumers and customers in the country and key export markets". Tyson Foods Malaysia currently operates a plant and development center in the nation. Mfm's vertically integrated poultry business includes feed mills, hatcheries, farms and processing plants.
"We are delighted to partner with Tyson Foods to expand our poultry business", said Teh Wee Chye, CEO of MFM. "Tyson Foods is one of the largest food production companies in the world with a strong global manufacturing and distribution footprint. Malaysia is one of the key poultry markets in Southeast Asia, with a high per capita consumption of poultry. Along with Tyson Foods, we look forward to increasing our offer of halal poultry products in the country, particularly in the synthetic meat segment, and to export to overseas markets with the help of the Group's global network".
The market value of the halal industry in Malaysia is expected to reach $ 147.4 billion (Rm 614.36 billion) by 2025, according to the Halal Industry Development Corporation (HDC). The country exports around $ 9 billion (Rm 35.4 billion) of halal-certified products. Founded in 1961, Malayan Flour Mills Berhad is the pioneer of the milling industry in Malaysia, where over the years it has grown to become a leading flour producer. Outside the country, the company is also present with the milling industry in Vietnam and Indonesia.
EFA News - European Food Agency