Purchase part of Interflour's goal of becoming one of the world's largest flour millers by 2018.
The Interflour Group, owned by Indonesian billionaire Anthony Salim, has purchased a flour mill in Da Nang with the aim of expanding its network of mills in Southeast Asia.
According to Mr. Greg Harvey, CEO of the Interflour Group, the Da Nang facility is relatively small with a production capacity of 220 tons a day but is an important part of the Group’s plans to become one of the world’s five largest flour millers by 2018.
There was also capacity to expand on the 3 ha site, he added, which is close to a port. Interflour will use barges to transport wheat to Da Nang from its port facilities at Cai Mep near Ho Chi Minh City, which include the largest mill in Vietnam and a malt plant set to start production early in 2017.
Although the value of the buy was not officially disclosed, industry rivals believe Foodinco may have sold the mill for a bargain $4 million.
Interflour ranks about 15th on the list of the world’s largest flour millers. Its aim is to crash into the Top 5 by boosting production to 10,000 tons a day.