CJ hosted the launching event of CJ Selecta brand on 25 August in Goiania, Brazil, attended by CEO of CJ CheilJedang Kim Chul-Ha and executives. CJ announced the vision of CJ Selecta and extended congratulations on Selecta now being part of the CJ family. At the launch, Kim Chul-Ha said that the company will not be satisfied with the title of Korea’s No. 1 food company and will continue to strengthen its global business.
Selecta produces soy protein concentrate, a key material for livestock feed. Its sales reached some $355 million (€296 million) and operating income stood at $49 million (€41 million) in 2016. Selecta has global sales networks in fourty countries and is considered to have cost competitiveness as it is based in Brazil, one of the world’s biggest soybean producing countries.
With the launch of CJ Selecta, CJ CheilJedang has completed its business portfolio as a company that produces both fermented soybean meal and soy protein concentrate. These two products are used as materials for high protein vegetable livestock feed. The company said that it plans to produce and supply various types of animal feed for poultry and pigs, and farmed fish. CJ Selecta also plans to produce food grade soy based products.
The scale of the high protein vegetable livestock feed market is about $1.4 billion (€1.2 billion). The market increased by seven per cent on average for the past five years. The goal of CJ is to reach over $700 million (€583 million) in sales from Korea, Brazil, Vietnam and China by 2020. Based on this, it expects to increase its share of the global soy concentrate market up to 40%.
For more information visit the CJ Selecta website.