Respect for your privacy is our priority

The cookie is a small information file stored in your browser each time you visit our web page.

Cookies are useful because they record the history of your activity on our web page. Thus, when you return to the page, it identifies you and configures its content based on your browsing habits, your identity and your preferences.

You may accept cookies or refuse, block or delete cookies, at your convenience. To do this, you can choose from one of the options available on this window or even and if necessary, by configuring your browser.

If you refuse cookies, we can not guarantee the proper functioning of the various features of our web page.

For more information, please read the COOKIES INFORMATION section on our web page.


News

China: Cofco sells off its unused capacity

09/03/2018 - Press release , François-Xavier Branthôme - Read in french
A few weeks ago, the specialized press reported that Cofco is undergoing a new restructuring of its industrial processing capacity and equipment. According to sources close to the transactions, China’s n°1 tomato processing company has already sold some of its manufacturing plants, a measure that has been requested by the “State-owned Assets Supervision and Administration Commission of China”.

Under the requirement of the Commission, “COFCO TUNHE must clean up idle and inefficient assets”. Nine factories have been listed for sale, including six tomato aseptic processing factories, two apricot processing factories and one repack factory. So far, two transactions have been concluded.
 
All these factories have been closed down for many years, and local raw material supply is not enough to restart efficiently. There is no impact on the effective tomato capacity of COFCO TUNHE. And actually, COFCO TUNHE will get stronger with the remaining high efficient capacity of about 400 000 tonnes of tomato paste per year relying on more guaranteed and sustainable raw material supply. Most of the buyers or potential buyers of these factories mainly aim to obtain the land and premises to build other businesses instead of restarting tomato processing, which will not bring much negative impact on the tomato industry structure in China,” explained a representative of Cofco. 

COFCO TUNHE Tomato Co., LTD. is now undergoing a mixed ownership reform. On the premise of COFCO as the main shareholder, non-state-owned capital will be introduced into the company, the systems and equipment will be optimized, the efficiency of management will be improved, employees will become more motivated, the ability of resisting external hazards will be strengthened. All of these measures will make the company more confident to face market challenges thanks to stronger core competitiveness and a more market-oriented approach.

Source: Cofco

 
Related companies

COFCO TUNHE Co. Ltd.

Tomato processor See details
Back

________________________________________

Editor : TOMATO NEWS SAS - 2 avenue du Blanchissage 84000 AVIGNON - FRANCE

contact@tomatonews.com / tomatonews.com

 

 

Supporting partners
Featured company
Agrofusion
Most popular news
Featured event
The Tomato News Conference
Our supporting partners