RAMON Ang-led San Miguel Pure Foods Company Inc. said it has started construction of a production facility for ready-to-eat foods in Laguna in a bid to address consumer demand for easy to prepare food.
The new facility, Pure Foods said, will rise on a 20,000-square-meter (sqm) area in Sta. Rosa and is targeted for completion in the first quarter of 2019.
Once operational, the facility will manufacture fully-cooked food and heat-and-serve meals that will address the growing consumer demand for convenient, easy-to-cook meals with “the highest levels of food safety.”
The facility was recently granted incentives by the Department of Trade and Industry through the Board of Investments.
“The plant and commissary will also cater to foodservice clients’ operational needs for high quality, healthy, and easy-to-prepare meals. It will also yield products for export in the ready-to-eat format,” Pure Foods said.
“The new facility will also support the DTI’s Inclusive Business program, through direct employment of locals and partnership programs with local businesses, farmers, and animal growers, resulting in an integrated supply chain,” it added.
The company did not say how much it was investing to build the new facility.
Pure Foods last week said it is tapping investment banks for its planned $1.5 billion stock rights offer.
Upon execution of the rights offer, the company will be able to boost its public float alongside plans of consolidating its beer and liquor businesses into Pure Foods.
Pure Foods is believed to be worth an estimated $9 billion to $10 billion upon consolidation.