$20m input for growth
FMF Foods Ltd (formerly Flour Mills of Fiji Ltd) has invested $20million in capital expenditure in the past two financial years to position its investment competitively for export-led growth and profitability in the region.
The company has commenced operations in another 100 per cent owned subsidiary, Bakery Company of Fiji Limited, to produce flavoured crackers and branded Raun Raun, primarily for the Papua New Guinea market where such crackers are popular.
The production facility for this company had been set up in Wailada Industrial Estate, Lami and created 60 new jobs for that locality.
Company chairman Hari Punja said the above initiatives were part of the company's efforts to grow and create a more stable base for its proprietary brands.
Mr Punja said this would help reduce their dependence on the volatile contract packaging business.
"It is my firm belief that this reinvestment of profits into the upgrade and renewal of the company's facilities, products and brand will better insulate the company against risks, even as it stays prepared for growth opportunities," he said.
He said a fair portion of the investment had been on the construction of new silos that provided additional grain storage capacity.
Friday, October 10, 2014