According to reports in the Australian press, the memorandum of understanding was signed last Thursday in Bangkok during a week-long trade mission by South Australian premier Jay Weatherill in south-east Asia.
Thomas Foods International CEO Darren Thomas has not specified the value of the investment or the number of jobs likely to be created.
“It’s a very momentous occasion for our business, but I also think for SA primary producers,” Thomas told reporters. “This is taking our wonderful products to the next level... in value adding.”
Thomas praised the help of the government and its role during the trade mission. “I certainly wouldn’t have met the CP Group if it wasn’t for Austrade and the minister’s office working together,” he said. “From that visit, I’ve subsequently been to Thailand and China three times in the last couple of weeks to look at their global facilities.”
Thomas Foods was established in 1988 and is Australia’s largest family-owned meat processing company. Its annual turnover is AU$1.3bn and it exports to 80 countries.