W Hydrocolloids acquires Cargill’s stake in Philippine Bio-Industries Inc

W Hydrocolloids, Inc. (WHI), a pioneer in the Philippines seaweed industry and a major carrageenan supplier from the Philippines, has acquired Cargill’s stake of the joint venture in Philippine Bio-Industries, Inc. (PBI).
PBI is the first fully automated refined carrageenan facility in Asia, producing highly refined carrageenan and carrageenan blends for the food industry.
Through this acquisition, WHI will now oversee the management of this facility, which started operations in the Philippines since November 1992. PBI uses patented European technology to produce fully refined carrageenan based on local seaweed raw materials. It has operated with a focus on food safety, acquiring both ISO 9001 and FSSSC 22000 certifications. The state-of-the-art plant is fully compliant with Halal and Kosher requirements, and it is also minimises on environmental damage.
“The Philippines remains an important market for Cargill and the company will continue to invest in the country and develop its businesses to meet the growing domestic demand for food and agriculture products,” said Sonny Catacutan, Philippines country representative for Cargill. “Cargill will continue to produce Carrageenan in its state-of-the-art plant in Europe and where appropriate, purchase PBI carrageenan-based products in order to serve its customers in the Philippines and around the world with premium seaweed ingredients.”
WHI President John Wee believes that the acquisition complements WHI’s business strategy of expanding its product portfolio and continuing to produce reliable food ingredients that bring value to its clients. He also stated that “WHI is committed to provide safe and sustainable food solutions especially in this period of uncertainty.”
W Hydrocolloids Inc. has 50 years history in the food ingredients industry, and it aims to be the global leader in this business with its trade name brand RICO® Carrageenan. The company has five (5) facilities around the Philippines located in Metro Manila, Cavite, Laguna, Carmen and Mandaue, Cebu.
WHI is a subsidiary of W Group Inc., a holding company with interests in food ingredients manufacturing, real estate development and financial portfolio management.
Philippine Bio-Industries Inc. is an enterprise based in the Philippines with its main office and facility in Canlubang, Laguna. It specialises in the production of fully refined carrageenan, specialty carrageenan and functional systems (blends).