.Released: 19 Nov. 2024, 13:46.Upgraded: 19 Nov. 2024, 17:24.
KIM JU-YEON.kim.juyeon2@joongang.co.kr. CJ CheilJedang’s factory in Busan [NEWS1] CJ CheilJedangu00e2 $ s inventory cost surged by over 6 per-cent on Tuesday hangover files emerged that the food firm are going to be actually marketing its biography organization, estimated to become worth over 5 mountain won ($ 3.6 billion). The company’s portions increased by 6.41 percent, or 16,500 won, from the previous trading treatment to 274,000 succeeded right after markets opened, in addition to of 1:30 p.m., depending on to records from the Korea Exchange.
CJ has chosen Morgan Stanley as its own financial consultant for the purchase, depending on to a resource priced quote through Market Idea on Monday. CJ CheilJedang’s biography organization primarily concentrates on producing food items spices as well as amino acids for creature feed making use of green biography technology. It is actually likewise the international market leader for some animal feed amino acid products like amino acid lysine as well as tryptophan.
The branch has likewise been one of CJ CheilJedangu00e2 $ s 2 main motorists of growth together with its food business u00e2 $” its income of 4.134 trillion gained last year accounted for 23 per-cent of the company’s purchases, while its operating income made up 30 percent. Regional media documents additionally hypothesized on a possible merger and also achievement by CJ along with funds coming from the purchase. The firm sold CJ HealthCare, its own health functional food division, for 1.3 mountain gained in 2018 and also used the funds to acquire U.S.-based frosted food items company Schwanu00e2 $ s Business in 2019.
Schwanu00e2 $ s largely resulted in CJu00e2 $ s travel in purchases in the USA, specifically by opening up circulation systems for CJu00e2 $ s Korean food items brand Bibigo. CJ CheilJedangu00e2 $ s USA sales rose through 64 percent over pair of years from 2019 u00e2 $” from 3.1 trillion gained in 2019 to 5.2 trillion succeeded in 2022. The Korea Exchange asked for a questions acknowledgment coming from CJ CheilJedang on Tuesday.
The company will be required to submit a report through 6 p.m. BY KIM JU-YEON [kim.juyeon2@joongang.co.kr]