San Miguel Food and Beverage Inc. (SMFBI), a subsidiary of conglomerate San Miguel Corp., is closing its meat processing facilities in Indonesia by the end of the month as it looks to focus its resources on the Philippines.
The decision to shut down its meat business under PT San Miguel Foods Indonesia, a joint venture established by SMC and Indonesia’s PT Hero Intiputra, was in line with the rationalization of its international operations.
In a disclosure to the Philippine Stock Exchange, SMFBI said it was “streamlining its businesses to focus on expansion in the Philippines.”
PT SMFI is 75.percent owned by SMFBI. The remaining 25 percent is held by SMFBI’s Indoensian partner.
It is the leading producer and marketer of halal fresh processed meat products for retail, foodservice, and institutional customers in Indonesia.
Its brands include Farmhouse and Vida sausages, burgers, meatballs, cold cuts, and food service products.
All products are HACCP-accredited, ISO-certified, and are widely distributed in both the retail and food service market.
SMFBI is ramping up its capital spending to P30 billion this year, largely to expand its feedmills business.