Thai Union Group Public Company Limited (SET: TU) announced that the joint venture company with R&B Food Supply Public Company Limited (SET: RBF) and Srinivasa Cystine Private Limited (SCPL), an Avanti Group associate, under the name “RBS -TU Food Ingredients Private Limited” was successfully registered on April 26, 2022.
The joint venture’s purpose is to supply high-quality food ingredients such as flavoring and coating, and over time, will potentially explore the setup of its own manufacturing facility in India. The investment capital is INR100 million, with a total of INR76 million in issued and paid-up capital (approximately USD 1 million).
According to the company’s shareholding structure, RBF owns 51%, Srinivasa Cystine Private Limited owns 30%, and TU owns 19%.
