October 12, 2012
CJ Cheiljedang plans for 50% sales increase in China
With its newly established factory in China, CJ Cheiljedang Corp plans to improve its sales in the country by more than 50% for 2012.
The South Korean firm's Chinese sales will likely reach US$448 million this year, up nearly 50%, they said.
CJ Cheiljedanghas recently completed a plant in Shenyang, located in northeast China, with an initial capital of US$400 million.
The Shenyang factory is expected to sharply increase CJ Cheiljedang's production capacity in China, helping the Korean company reduce costs and expand its presence in the world's most populous market.
The plant has an annual capacity of 100,000 tonnes of lysine, 50,000 tonnes of threonine and 3,000 tonnes of nucleic acid, a seasoning material, CJ officials said.
CJ CheilJedng's overall production capacity in China will reach 200,000 tonnes of lysine, 50,000 tonnes of threonine and 13,000 tonnes of nucleic acid, the company officials said.
Meanwhile, CJ CheilJedang hopes it will capture the top status in the global lysine market. CJ CheilJedang said it will secure an annual capacity of 700,000 tonnes of lysine and a global market share of 30% by 2014.
The global lysine market stands at US$3 billion with China's GBT having the largest market share. Japan's Ajinomoto and CJ CheilJedang share the number two spot, followed by ADM of the US.