Fri, Jun 27, 2014 - Page 13 News List

Wei Chuan Foods to expand into Chinese market

By Amy Su  /  Staff reporter, in TAOYUAN

Wei Chuan Foods Corp (味全食品工業), a major food manufacturers in Taiwan, aims to maintain its overall capital expenditure this year between NT$1.5 billion and NT$2 billion (US$50.01 million and US$66.68 million), to ensure food safety and continue expansion in China.

Wei Chuan, a member of the Ting Hsin International Group (頂新集團), yesterday held its annual general meeting at its Wei Chuan Pushin Ranch in Taoyuan County.

It was the first time that Wei Chuan chairman Wei Yin-chun (魏應充) hosted the meeting and faced shareholders since the company was implicated in the production of adulterated cooking oil last year.

“The issue has made the company pay more attention to the quality of materials for making our products,” Wei told reporters after the meeting.

Wei Chuan has decided to invest more than NT$100 million this year to build up a quality assurance and inspection center — its second — in Yunlin County in a major portion of its domestic capital expenditure.

In China, Wei Chuan expects to accelerate market development in the northeastern, southern, central and southwestern regions, Wei Yin-chun said.

The food-safety issue last year prompted Wei to raise employee wages, hoping it would help keep talent and inspire better performance.

Shareholders yesterday approved Wei Chuan’s plan to distribute a cash dividend of NT$0.6 per share — the same level as last year — based on last year’s net profit of NT$872.89 million, or NT$1.72 per share.

Wei Chuan shares rose 0.22 percent to close at NT$45.1 yesterday.

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