SEAWEED manufacturer W Hydrocolloids, Inc. (WHI) announced its recent acquisition of a stake in a company operating a seaweed production facility, as part of its efforts to strengthen production.
In a statement, WHI said it had acquired the stake of food manufacturer Cargill in Philippine Bio-Industries, Inc. (PBI) and its fully automated refined carrageenan facility that produces carrageenan and carrageenan blends.
After the acquisition, WHI will manage the production facility in Canlubang, Laguna that uses patented European technology to produce fully refined carrageenan from local seaweed raw materials.
WHI President John Wee said the move is in line with the company’s efforts in expanding its product portfolio.
“WHI is committed to provide safe and sustainable food solutions especially in this period of uncertainty,” he said.
Sonny Catacutan, Cargill country representative for the Philippines, said the company would continue its carrageenan production in its Europe plant.
“The Philippines remains an important market for Cargill and the company will continue to invest in the country and develop its businesses to meet the growing domestic demand for food and agriculture products,” Mr. Catacutan said.
PBI’s facility, which started its operations in November 1992, complies with a strict environmental protection program to limit its impact on the environment, while also providing a safe working environment for its employees.
“The state-of-the-art plant is fully compliant with Halal and Kosher requirements,” the statement said.
WHI, a subsidiary of W Group Inc., has business interests in food ingredients manufacturing, real estate development, and financial portfolio management. — Revin Mikhael D. Ochave
