More Purefoods chicken nuggets, corned beef underway as San Miguel Group plots P56B expansion
San Miguel Pure Foods Co. Inc. has set a P56 billion capital spending program over the next three years to build new processing plants for its meat and beverage products as well as feedmilling facilities.
” Our appetite for growth has never been this big. Last year, we spent more than P6 billion for state-of-the-art feedmills, a bigger ane more advanced processed meat plant and additional facilities,” said PureFoods president Francisco Alejo.
The company is aggressively expanding to take advantage of buoyant consumer demand.
SMPFC delivered strong results in the first quarter with net earnings rising 20 percent to P1.5 billion. Operating income expanded by 16 percent to P2.1 billion owing to better operational efficiencies and lower costs of some major raw materials.