MANILA, Philippines — A Philippine based seaweed manufacturer has recently acquired a stake at a company running an automated production facility of seaweeds, potentially boosting its production in the rapidly growing market.
In a statement dated Sept. 7, W. Hydrocolloids Inc. announced its purchase of the stake of Cargill, an animal nutrition supplier, at Philippine Bio-industries Inc. The purchase, W. Hydrocolloids said, meant the company would "oversee the management" of the joint venture's facility in Canlubang, Laguna which manufactures seaweed products. The plant has been in operation since November 1992.
John Wee, W. Hydrocolloids president, said in a statement the acquisition "complements our business strategy of expanding our product portfolio and continuing to produce reliable food ingredients that bring value to our clients." "WHI is committed to provide safe and sustainable food solutions especially in this period of uncertainty," he added.
The facility, the statement said, used European technology to produce fully refined carrageenan based on local seaweed raw materials. The plant is also fully compliant with Halal and Koshner requirements.
"PBI follows a stringent environmental protection program to minimize its impact on the environment," it added.