.Posted: 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 stock cost jumped by over 6 per-cent on Tuesday hangover records emerged that the food items company will be marketing its own biography organization, predicted to become worth over 5 trillion won ($ 3.6 billion). The company’s allotments rose through 6.41 percent, or 16,500 succeeded, from the previous trading treatment to 274,000 won right after markets opened, as well as of 1:30 p.m., according to information coming from the Korea Substitution.
CJ has actually selected Morgan Stanley as its monetary agent for the purchase, depending on to a source estimated by Market Idea on Monday. CJ CheilJedang’s biography company mainly focuses on producing food items spices and also amino acids for animal feed utilizing green biography modern technology. It is actually additionally the international market forerunner for some creature feed amino acid products such as amino acid lysine as well as tryptophan.
The department has additionally been among CJ CheilJedangu00e2 $ s 2 main drivers of development alongside its own food company u00e2 $” its own revenue of 4.134 mountain gained last year accounted for 23 percent of the business’s purchases, while its operating income made up 30 percent. Neighborhood media documents additionally supposed on a possible merging and also accomplishment through CJ along with funds coming from the sale. The company sold CJ HealthCare, its own wellness useful meals division, for 1.3 trillion gained in 2018 as well as made use of the funds to get U.S.-based frozen food items organization Schwanu00e2 $ s Company in 2019.
Schwanu00e2 $ s greatly added to CJu00e2 $ s travel in sales in the USA, specifically by opening up circulation systems for CJu00e2 $ s Oriental food items brand name Bibigo. CJ CheilJedangu00e2 $ s united state sales rose by 64 per-cent over 2 years coming from 2019 u00e2 $” from 3.1 trillion won in 2019 to 5.2 trillion succeeded in 2022. The Korea Substitution asked for an inquiry acknowledgment coming from CJ CheilJedang on Tuesday.
The business will certainly be needed to submit a document through 6 p.m. BY KIM JU-YEON [kim.juyeon2@joongang.co.kr]