Ly Ly Food Industry launches $16M second cracker factory
Ly Ly Kameda Co Ltd, a joint venture between local company Ly Ly Food Industry Co Ltd and Japanese firm Kameda Seika Co Ltd, was officially launched on Saturday.
The $16 million factory, which can produce more than 3,000 tonnes of crackers annually for export, is 49 per cent owned by Ly Ly Food Industry and 51 per cent by Kameda Seika. It employs about 250 workers.
Ly Ly Food Industry CEO Keo Mom said the launch of its second cracker factory was a large step for the local firm, as orders continued to grow.
“We plan to expand in the coming years as the market continues to gain greater interest,” said Mom.
She said the newly launched factory is equipped with advanced technology and has passed safety and hygiene inspections. Its raw materials are almost exclusively local and its products will all be exported.
The plant began trial production in January, exporting one container daily to Australia and New Zealand, she said.
Ly Ly Food Industry’s first factory also has a production capacity of more than 3,000 tonnes a year, she said, adding that about 65 per cent of the factory’s products are sold locally while the remaining 35 per cent is exported.
Kameda Seika chairman and CEO Michiyasu Tanaka said his company is currently investing in seven countries, including Cambodia. The Kingdom has a high potential for investment in all sectors, he said.
“Soon, my company intends to expand to a new production line in the same factory, and the next step could be elsewhere,” said Tanaka, adding that the firm is currently seeking more markets in countries such as China, the US and Canada.
Minister of Industry and Handicraft Cham Prasidh said it was a source of “national pride” for Cambodia to have partnered with an international Japanese firm.
“Through this partnership, [we] hope that more Cambodian companies will strive to increase their capacity and partner with larger foreign firms,” he said.