CHANGZHOU, China, July 26, 2013 /PRNewswire/ -- The Japanese firm Ichimasa Kamaboko recently established an agricultural venture in Changzhou National Hi-Tech District (CND), Jiangsu province, China. The venture, Ichimasa Agrotechnology (Changzhou), is local first foreign-invested agricultural project and will specialize in industrial production of soilless culture organic fungus and mushrooms to service high-end restaurants and clubs.
Ichimasa Kamaboko, a Niigata, Japan-based publicly traded company, is mainly engaged in the processing of aquatic products and cultivation of organic fungus and mushrooms. The firm has six factories and one cultivation technology center in Japan and its brand "Ichimasa" is a household name in its home market. Ichimasa Kamaboko's sales exceeded 30 billion yen in 2012.
The US$36 million venture will focus on industrial production of soilless culture organic fungus and mushrooms with an annual production capacity of 2 thousand tons. Given the current economic climate, this venture demonstrates Ichimasa Kamaboko's strong confidence in the Chinese market.
CND has attracted substantial foreign investment as a result of its superior investment environment. To date the district has attracted a cumulative total of more than US$11.4 billion of agreed and registered foreign capital, having successfully brought in a roster of leading multinational companies including Terex, Gates and Ashland from the United States, Saint-Gobain and Vallourec & Mannemann Tubes from France, Lanxess from Germany, Mettler Toledo from Switzerland, Akzo Nobel from the Netherlands, KOMATSU, Denso, Nippon Steel and Bridgestone from Japan, and Hyundai from South Korea.
Publicity Department of Changzhou National Hi-Tech District (Xinbei District), Jiangsu province
SOURCE The Administration Committee of Changzhou National Hi-Tech District