Targeting 3 Tril. Won in Sales Next Year
CJ Cheiljedang held a ceremony in honor of the 30th anniversary of its entry into Indonesia at Pasuruan Bio Factory on Dec. 20 (local time). In December 1988, CJ CheilJedang established a bio factory in Pasuruan of eastern Java, Indonesia and began selling lysine for animal feed.
CJ CheilJedang's global bio business surpassed two trillion won in annual sales for the first time last year, and the company aims to post 2.8 trillion won in sales this year and more than three trillion won next year. Currently, it ranks first in terms of the global market shares of five products – lysine, tryptophan, nucleic acid, valine and concentrated soybean protein.
The growth of the Pasuruan plant ignited the expansion of CJ CheilJdang’s global bio business. In 1997, the company established its second overseas plant to produce nucleic acid and MSG which are food additives in Indonesia. In the 2000s, CJ CheilJdang expanded its production bases into Liaocheng in China (2005) and Piracicaba in Brazil (2007).
In 2013, CJ CheilJedang established a plant in Iowa, the U.S., becoming the only company in the world to have production bases throughout Latin America, the U.S., China and Southeast Asia. The Pasuruan biotech factory has become an outpost for CJ CheilJedang to help the company top the global lysine market. The annual production volume swelled from 10,000 tons at its initial stage to 250,000 tons at present and its cumulative lysine production volume broke through a milestone of three million tons last year. The Indonesian bio business is expected to post about US$ 600 million in annual sales.
CJ CheilJedang has also expanded its business portfolio while harnessing its differentiated R&D competitiveness. The company secured the world's largest tryptophan production base among single facilities while expanding the size of its Pasuruan plant. In 2013, the company started the business of arginine and valine which are next-generation amino acids in Shenyang, China. Since 2015, its plant in Kertih, Malaysia has been producing L-methionine based on environmentally friendly fermentation technology developed for the first time in the world. In addition, the company took over Haide (China), a functional amino acid company in 2016, and Selecta (Brazil), the world's No. 1 concentrate soybean protein producer in order to secure its future growth engines.