SET:TU

Thai Union Feedmill Forms New Subsidiary in Ecuador

Thai Union Feedmill (SET:TFM), a subsidiary of Thai Union Group Public Company (SET:TU), has formed a new arm in Ecuador, according to a Tuesday filing to the Thai stock exchange.The new subsidiary, named Thai Union Feedmill Ecuador, has been formed with an initial capital of $27 million for the construction of an aquaculture production facility in Ecuador.Thai Union Feedmill holds around 85% in the new entity, while Avanti Feed (NSE:AVANTIFEED, BOM:512573) owns 11%and Pacific Aqua Solution Pacsol holds the remaining 4%.