Jollibee Foods Corp. (JFC), the largest Asian foodservice company, and Cargill Philippines Inc., a wholly owned subsidiary of Cargill Inc., announced an agreement to build and operate a poultry processing plant in Santo Tomas, Batangas, in the Philippines.
Cargill and JFC will have a 70% and a 30% stake, respectively, in the joint venture, which will be called Cargill Joy Poultry Meats Production Inc. Cargill will oversee the setup, management and operations of this facility.<
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