Charoen Pokphand Enterprise (Taiwan) Co (CP Taiwan, 台灣卜蜂) plans to invest more than NT$800 million (US$27.02 million) domestically in accordance with its global strategy, the Ministry of Economic Affairs said on Thursday.
The investment is also a demonstration of its efforts to meet changing market trends, the ministry said.
CP Taiwan has been manufacturing feedstuff and meat products for more than 40 years.
The company has in the past few years diversified its business, and continued to invest in technological research and product innovation to offer a broader product portfolio and maintain its competitive edge in the market, the ministry said in a statement.
In Taiwan, the company has manufacturing bases in Taichung, Nantou County and Kaohsiung.
It plans to build artificial intelligence-based automated facilities for feedstuff production in the Yunlin Technology Industrial Park (雲林科技工業區), the ministry said, adding that the company plans to gradually expand the scale of production in Yunlin, and aims to produce safe and high-quality animal feedstuff to satisfy market demand.
CP Taiwan posted a net profit of NT$234.35 million in the first quarter, down from NT$242.13 million a year earlier.
Earnings per share declined from NT$0.94 to NT$0.88 during the same period.
Revenue rose 4.13 percent year-on-year to NT$8.9 billion in the first five months of the year, company data showed.
CP Taiwan’s latest investment to build a smart manufacturing process and warehouse management system is expected to create 25 jobs, the ministry said.
It is one of 538 companies that have won the ministry’s approval to invest NT$1.04 trillion through government incentive programs.
The investments by those companies are expected to provide 86,645 jobs, while another 61 companies are waiting in line, the ministry said.
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