Beverages-related Joint Venture
Sumitomo Heavy Industries, Ltd. ( “SHI”) and its subsidiary Izumi Food Machinery Co., Ltd. have established a beverage machinery related joint venture company with Germany-based Krones AG to develop the Asia region. Through the establishment of this joint venture company, SHI Group aims to capitalise on the know-how and supply chain of Krones and accelerate the development of its beverage machinery business in the Asia region.
Under the name Krones-Izumi Processing Pte. Ltd., the Joint Venture which will be located in Singapore, targets facilities that manufacture soft drinks, juice, tea, coffee, water, milk, soy sauce and other beverages (excluding food, ice cream and alcoholic drinks) in the Asia Pacific region, excluding Japan, China and India.
The Memorandum of Understanding was finalised on April 25, 2017. Operations are estimated to start in June this year.
