The new company PACT will be registered with a capital of THB 160 million and JWD and Thai Union Group will each hold equally 50 percent of ordinary shares.
"The investment will enhance Thai Union's supply chain management and competitiveness", said Thiraphong Chansiri, CEO at Thai Union Group, "The new joint venture will help secure the raw material storage for Thai Union and, at the same time, includes a business model that maximises the space capacity. PCS has a long experience in cold storage business and we look forward to embarking on this new journey together."
PCS will manage the new storage operations after the facility completes in the fourth quarter this year.
Source: MT Multimedia