Chinese potato starch firm ups production
The company, which was established in 2001 and listed in Singapore in 2006, specialises in starch and starch-based products like vermicelli and noodles, as well as potato protein and fibre. Its flagship product is a 5-grain noodle which is said to be smoother, stronger and more elastic than traditional noodles, a mainstay of the Chinese diet.
As well as the food sector, it produces some 18,000 tonnes of modified starch a year which is used by the textiles, paper, adhesive, oil, mining, pharmaceutical and personal care industries.
Northeast China and Inner Mongolia, where it has its facilities, are prime potato-growing regions. The two new facilities are being built in Nenjiang in Heilingjiang, and in Zhalantun, Inner Mongolia, and will have a combined capacity of 80,000 tonnes a year.
The news, announced today in an update of business operations, comes on the back of a scheme announced in 2008 to double potato protein production to 160,000 tonnes a year. Potato fibre production is also increasing to 160,000 tonnes a year.
In January, China Essence made it onto the Forbes list of China’s fastest-growing companies. It achieved 25th place out of 200. Since 2004 it has boasted ISO-certification.
The company reported its Q3 financial results in February: Revenue was RMB314.0m, representing an 11 per cent decline on the prior year period but a 39.5 per cent quarter-on-quarter increase.