A leading Suffolk malted ingredients manufacturer is to launch a £10.4 million plant in Thailand after joining forces with another firm.
Muntons, based in Stowmarket, will embark on the 50/50 joint venture with Jebsen & Jessen - a leading distributor of nutrition and life science ingredients in South East Asia.
The company will supply raw material for the Asian production plant which will increase its UK grain purchases by about 5,000 tonnes annually.
Bosses at Muntons say the move will increase UK manufacturing output, safeguard jobs and create an estimated 30 new jobs in Thailand. The new company JJ-Muntons (Thailand) Ltd will see the new plant built in Chonburi, Thailand, by the end of next year.
Marc Deschamps, regional managing director of Jebsen & Jessen Chemicals, said: “We’re teaming up for success and growth in Asia. Munton’s technology and production know-how paired with Jebsen & Jessen’s distribution capability in South East Asia is a winning formula for this joint venture of equal partnership.”
Alan Ridealgh, group managing director of Muntons, added: “There is tremendous synergy between our two family owned independent businesses and this new venture utilises the combined strengths of both of our companies. Jebsen & Jessen is part of a group with 50 years history in South East Asia and we at Muntons are delighted to be able to cement this strong partnership.”
Each year, Muntons’ Stowmarket headquarters produces more than 80,000 tonnes of malt and 40,000 tonnes of malt based extracts. They also have a 10,000 tonne malt flour milling and malted cereal flaking operation.