BRC Global Standard for Food Safety
September 01 2011 - 10:50AM
RNS Non-Regulatory
TIDMCFC
China Food Company PLC
01 September 2011
Press Release 1 September 2011
China Food Company Plc
("China Food" or the "Company")
BRC Global Standard for Food Safety
China Food Company Plc (AIM:CFC), a leading Chinese manufacturer
of cooking and dipping sauces, is pleased to announce that it has
today received the British Retail Consortium's ("BRC")
Certification of Global Standards for Food Safety. China Food has
been assessed and certified as meeting the necessary requirements
of this international standard for the manufacture of soy
sauce.
John Mclean, Non-Executive Chairman of China Food, said: "We are
delighted to have met the standards set by one of the UK's leading
trade associations, which further demonstrates that China Food
operates as an international company. It also marks the validation
of China Food's strategy in respect of successfully establishing a
world-class production facility and its excellence in
production."
- Ends -
For further information:
China Food Company Plc
John McLean, Non-Executive Chairman Tel: +44 (0) 7768 031
454
Raphael Tham, Chief Executive
www.chinafoodcompany.com
finnCap
Geoff Nash / Ben Thompson (Corporate Tel: +44 (0) 20 7600
Finance) 1658
Simon Starr (Broking)
Media enquiries:
Abchurch Communications
Henry Harrison-Topham / Joanne Shears Tel: +44 (0) 20 7398
/ Mark Dixon 7709
joanne.shears@abchurch-group.com www.abchurch-group.com
Notes to Editors:
China Food is a well-established food manufacturing business
based in Shandong province in the People's Republic of China, a
region with a population of circa 94 million. A recent report
identified Shandong province as one of the five most attractive
'city clusters' in China, due to the high number of large cities in
the province*. The Group manufactures numerous different product
lines including soya sauce and bean paste, all targeting the
Chinese domestic market, and sold through a network of distributors
and outlets of supermarket chains in the north-eastern region of
the PRC, such as Tesco, Walmart, Carrefour and Jialejia.
The Chinese sauces, dressings and condiments market is expected
to be worth CNY115 billion (US$15 billion) by 2013**, driven by
Chinese population growth and economic prosperity. The Chinese
domestic market is rapidly expanding, and the Group is well
positioned to benefit from China's demographic growth and increased
urbanisation.
The first phase of expansion is now complete at the Group's new
factory, which was officially opened on 12 May 2010, and this
doubles China Food's current capacity. It is proposed that in due
course there will be a further two phases, adding capacity of
100,000 tonnes through the building of 230 additional silos. The
Group plans to expand into the neighbouring provinces such as Henan
and Hebei.
The Group also operates an animal feed business, Fuss Feed. This
business produces premix, concentrate and compound feedstuffs, and
is the third largest animal feed business in Shandong, an important
province for the production of livestock in China.
The Group's operations are highly scalable and able to support
further growth, and with net assets of GBP34.5 million (as at 31
December 2010), the prospects for China Food are strong. Further
information on China Food Company can be found at
www.chinafoodcompany.com.
*McKinsey Quarterly Report: Is your emerging market strategy
local enough?, April 2011
**Source: Datamonitor report: Sauces, Dressings and Condiments
in China to 2013, April 2010
This information is provided by RNS
The company news service from the London Stock Exchange
END
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