Tokyo, Feb 18, 2014 - (JCN Newswire) - Mitsubishi Corporation (MC) has concluded an agreement with Colcafe, a subsidiary of Grupo Nutresa S.A. (NUTRESA), Colombia's largest food company, to establish a fifty-fifty joint venture in Malaysia. The joint venture, ORIENTAL COFFEE ALLIANCE SDN.BHD (OCA), to be headquartered in Kuala Lumpur, will serve as a base for expanding the coffee business in Asia.
Latin America's fourth largest food company, NUTRESA manufactures and sells products in six different segments, including cold cuts, biscuits, chocolates and coffee. Its subsidiary Colcafe specializes in the coffee business, particularly the manufacture and sale of instant coffee and has earned NUTRESA a positive reputation among beverage companies globally for its high level of technical expertise.
The demand for instant coffee in Asia is growing rapidly and the market is expected to see continued expansion. This new joint-venture will therefore provide MC and NUTRESA with a strategic base for expanding their business in the sale of instant coffee products by taking advantage of the ever expanding consumer market for coffee in Asia.
Seeking to take advantage of the growing demand for daily living essentials in emerging markets due to a rapidly growing middle class, MC will proactively work to strengthen its supply chains in emerging markets, not only for coffee, but for other consumer goods as well. MC will also be drawing on the expertise it has developed over the years in forging robust long-term business networks with the world's leading companies, both from Japan and overseas.
Company Profiles
Company Name ORIENTAL COFFEE ALLIANCE SDN. BHD
Business Activities Marketing of coffee products in Asia
Capital 200 million yen
Shareholders Colcafe 50 percent; Mitsubishi Corporation 50%
Headquarters Kuala Lumpur, Malaysia
Grupo Nutresa
(1) Headquarters: Medellin, Antioquia, Colombia
(2) Business Activities: Manufacture & Sale of Food Products (cold cuts, biscuits,
chocolates, coffee, ice cream, pasta, etc.)
(3) Representative: Carlos Enrique Piedrahita, CEO
(4) No. of Employees: 31,650
Mitsubishi Corporation
(1) Headquarters: 3-1, Marunouchi 2-Chome, Chiyoda-Ku, Tokyo 100-8086, Japan
(2) Business Activities: MC is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods
(3) Representative: Ken Kobayashi, President and CEO
(4) Year Established: 1950
(5) No. of Employees: 65,975（consolidated, as of March 31, 2013)
About Mitsubishi Corporation
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 bases of operations in approximately 80 countries worldwide and a network of over 500 group companies, MC employs a multinational workforce of nearly 60,000 people. For more information, please visit www.mitsubishicorp.com.
Source: Mitsubishi Corporation
Contact:
Mitsubishi Corporation
Telephone:+81 3 3210 2171
Facsimile:+81 3 5252 7705
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