Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Nvidia Develops New Location-Verification Technology for AI Chips 
Samsung SDI Secures Major LFP Battery Supply Deal in the U.S. 
JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up 
ANZ Faces Legal Battle as Former CEO Shayne Elliott Sues Over A$13.5 Million Bonus Dispute 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
China Adds Domestic AI Chips to Government Procurement List as U.S. Considers Easing Nvidia Export Curbs 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Global Forex Markets Brace for Fed Decision as Yen Extends Weakness 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
CJ CheilJedang finished the construction of its frozen pizza production plant in the United States. The facility has been described as the largest manufacturing facility for frozen pizza in the world.
As per The Korea Times, the building of the plant is part of CJ CheilJedang's plan to beat Nestlé, which is currently occupying the top spot as the market leader in the field. The construction is actually just an expansion of the company's Schwan's pizza plant located in Salinas, Kansas.
Schwan's was acquired by CJ CheilJedang in February 2019 and has subsequently become its North American subsidiary. The largest food manufacturing company in South Korea expanded its Schwan's facility by adding around 40,000 square meters of space for production. The total floor area of the plant is now 90,000 square meters which is equivalent to the size of almost 12 soccer fields.
CJ CheilJedang will also expand its logistics center that is also inside the Salinas plant, and this is expected to be completed by the year 2025. The hub will handle the distribution of all of the company's food products, including the Bibigo brand in the U.S.
"This is a world-class, state-of-the-art manufacturing facility that enables us to significantly increase our capacity to produce our quality pizza products and continue to support the community's economic development," Dimitrios Smyrnios, Schwan's chief executive officer, said in a press release. "Red Baron is the fastest growing brand in frozen pizza and we're well-positioned to meet consumers' growing demand for their favorite pizza."
A company official of CJ CheilJedang also said, "Schwan's Company serves a crucial role in expanding our global food business and contributes greatly to the spread of K-food. With the expansion of the Salina factory, we will continue to build business capabilities to become the No. 1 food company in the U.S."
Photo by: Alan Hardman/Unsplash
