(abs-cbnNEWS.com)
MANILA, Philippines - Gokongwei-led Universal Robina Corp. has set aside P3.82 billion for capital expenditures this year, bulk of which will be spent for its snack food and beverage businesses.
In a preliminary filing with the Philippine Stock Exchange, the food manufacturing arm of JG Summit Holdings Inc. said P3.1 billion of the total amount would be channeled for the expansion of its branded food segment operations, particularly for snack production facilities in the Philippines and beverage production facilities in Thailand and Vietnam.
About P260 million will go to the company's sugar mill, and another P263 million will be earmarked for its agro-industrial group's farm and feeds divisions.
Universal Robina in involved in a wide range of food-related businesses, including manufacture and distribution of branded consumer goods; production of hogs and day-old chikcs; manufacture of animal feeds, glucose and veterinary compounds; flour milling; and sugar milling and refining.
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