We have to be active in China, regardless of what's going on" with the novel virus epidemic. Beyond Meat Inc. is planning to bring a production facility to Canada. Beyond Meat has just announced an agreement with Jiaxing Economic & Technological Development Zone (JXEDZ) to design and develop its manufacturing footprint in the area with a new facility with ready access to Shanghai. The company believes localized production will reduce its transportation footprint and help it bring products to its European customers more quickly. Beyond Meat has co-packers in the U.S., Canada and the Netherlands. Beyond Meat is sacrificing near-term profits to reinvest in growth, he explained. The state-of-the-art plant, owned and operated by Zandbergen, is located in Zoeterwoude, the Netherlands and will produce the Beyond Burger and Beyond Sausage. Overview Suggest Edit. The decline coincided with the coronavirus-induced market sell-off. Beyond Meat undertakes no obligation to publicly update or revise any forward-looking statement because of new information, future events or otherwise, except as otherwise required by law. The stock is nearly 139 points off its all-time closing high in July. The company already sells its faux-meat products in Taiwan, Singapore and Hong Kong. The plant-based protein company announced the grand opening of its newest facility in the Jiaxing Economic & Technological Development Zone (JXEDZ) near Shanghai, China. The company claims it will be the first multinational company in the plant-based sector to bring its own major production facility into China. Continuing to push the innovation envelope, Beyond Meat® is expanding its production output with a new state-of-the-art manufacturing facility. If there had been a disruption to the internal combustion engine manufacturing infrastructure where 25% disappeared overnight, we'd be going bananas trying to leapfrog and put hydrogen or electric drive technology in its place," Brown said. Founded in 2009, Beyond Meat products are designed to have the same taste and texture as animal-based meat while being better for people and the planet. Beyond Meat Inc. is building two production facilities in China’s eastern province of Zhejiang in its biggest push yet to enter the Chinese market for alternative protein. That’s why Beyond Meat, the makers of the Beyond Burger and Beyond Sausage, is creating a second production facility in Missouri specifically to keep up with demand for its products. Beyond Meat Triples Production Footprint with a new facility for Growing Demand Beyond Meat is opening a second production facility in Columbia, Missouri to serve sustained and rapidly climbing demand. Beyond Meat wants to open production facilities in Asia in 2020 in an effort to penetrate the market in China, which has the world's second-largest economy. That's the right focus for our business.". Investing.com -- Beyond Meat (NASDAQ: BYND) popped after saying it will develop production facilities in China. Beyond Meat has announced the lease of a vast Los Angeles office space to serve as its new global headquarters. Get this delivered to your inbox, and more info about our products and services. madcap@cnbc.com. Beyond Meat becomes the first multinational company focused solely on plant-based meat production to open its own production facility in China SHANGHAI, CHINA – Media OutReach – 7 April 2021 – Beyond Meat, Inc. (NASDAQ: BYND), a global plant-based protein company, today announced the grand opening of its new state-of-the-art manufacturing facility … Designed to serve China’s growing plant-based meat market, the facility will produce Beyond Meat’s innovative range of plant-based pork, beef and poultry products, including Beyond Pork™, the company’s first innovation created specifically for the Chinese market. sauté. The … Zandbergen World’s Finest Meat officially opens new co-manufacturing facility dedicated to Beyond Meat production. This will not only increase production of the mock meats we know and love but create about 250 jobs, representing more than 12 nations among Beyond Meat’s staff members. Type. Revenue at the meat substitutes company more than tripled in the three-month period from the year prior, though the stock sold off on the quarterly results. Beyond Meat’s brand commitment, Eat What You Love™, represents a strong belief that there is a better way to feed our future and that the positive choices we all make, no matter how small, can have a great impact on our personal health and the health of our planet. In addition to scaled production to support the company’s expanding retail and foodservice business within China, the facility will also feature R&D capabilities to create unique product offerings and support Beyond Meat’s local strategic partners. Beyond Meat announced today a historic agreement with Jiaxing Economic & Technological Development Zone (JXEDZ) to bring the production of plant-based meat to the Chinese market. "Beyond Meat Inc will be the first multinational company focused solely on plant-based meat production to bring its own major production facility into China," the company said in … It is expected to be operational by the end of 2020. processed food. Got a confidential news tip? Beyond Meat is the first plant-based protein company to build a production facility in China. beyond breakfast sausage ® learn more go introducing plant-based links now rolling out to the meat aisle. Data is a real-time snapshot *Data is delayed at least 15 minutes. It's an opportunity for hyper growth, so I'm looking very seriously to Asia," Beyond Meat CEO Ethan Brown told CNBC as the company continues plans to open up a production facility in the region. "I made a commitment that we're going to be producing in Asia by the end of this year. These forward-looking statements are only predictions, not historical fact, and involve certain risks and uncertainties, as well as assumptions. Beyond Meat Triples Production Footprint. Food & Beverage. We're looking at potentially acquisitions in the supply chain or adjacencies," Brown said. With summer grilling season upon us, demand for The Future of Protein continues to skyrocket. The facility, which is expected to be ready in the first quarter of 2020, will mark Beyond Meat’s first production capability outside the United States. The facility is intended to pave the way for Beyond Meat to efficiently scale-up to meet future needs and demand. China represents a golden opportunity to sell plant-based pork products for Beyond Meat. It's an opportunity for hyper growth, so I'm looking very seriously to Asia," the chief executive and president said in a sit-down interview with CNBC's Jim Cramer on "Mad Money." We'll do that regardless of, I think, of this health epidemic occurring right now.". Susan Krashinsky Robertson Retailing reporter. Such forward-looking statements are made only as of the date of this release. This Beyond Meat owned facility will be the first outside of Missouri, USA to handle Beyond Meat’s innovative approach to texturizing plant proteins, the first step in the company’s manufacturing process. "I am very similar to what Amazon did in terms of reinvesting and continuing to grow," he said. Beyond Meat is a company producing vegetarian meat substitutes. To keep up with the rapidly growing demand, we are opening a second production facility in Columbia, Missouri. What Beyond Meat sees in China is an opportunity to take advantage of a market that has opened up, given that the African swine fever has depleted the country's pork supply, which more than doubled pork prices near the end of 2019. We'll do that regardless of, I think, of this health epidemic occurring right now," he said in a "Mad Money" interview. Actual results, levels of activity, performance, achievements and events could differ materially from those stated, anticipated or implied by such forward-looking statements. learn more go open. Beyond Meat shares surged more than 7% to $96.10 in Monday's session. Call Cramer: 1-800-743-CNBC, Want to take a deep dive into Cramer's world? Demand for Beyond Meat’s innovative plant-based products continues to skyrocket. The move is a further sign of the alternative meat giant’s spectacular growth after recently signing deals with Taco Bell and Costco.. Beyond Meat just announced the opening of its plant-based meat production facility in China. Questions for Cramer? There are many risks and uncertainties that could cause actual results to differ materially from forward-looking statements made herein including, most prominently, the risks discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 filed with the U.S. Securities and Exchange Commission (“SEC”) on March 1, 2021 as well as other factors described from time to time in Beyond Meat’s filings with the SEC. "Right now is a moment in time for us. the even-better beyond burger ® beyond meatballs ™ now available at a store near you. "We are doing everything we can right now to grab as much market share as we possibly can. “The plant-based meat market in China continues to expand and Beyond Meat has been enthusiastically met by local consumers who are looking to live a healthy and sustainable lifestyle. Beyond Meat, Inc. (NASDAQ: BYND) is one of the fastest growing food companies in the United States, offering a portfolio of revolutionary plant-based meats made from simple ingredients without GMOs, bioengineered ingredients, hormones, antibiotics, or cholesterol. "This is a time of hyper growth. Beyond Meat is increasing its presence in China, becoming the first foreign company specialising in plant-based meat to build production facilities in the country. coming now to a store near you. As well as the Zoeterwoude factory, Beyond Meat has announced the acquisition of its first manufacturing facility in Europe located in Enschede, the Netherlands. Situated in Jiaxing, a city 85 km from Shanghai, the plant is Beyond Meat’s first end-to-end manufacturing facility outside the U.S., the Nasdaq-listed company said in an announcement on Wednesday. SHANGHAI, China, April 07, 2021 (GLOBE NEWSWIRE) -- Beyond Meat, Inc. (NASDAQ: BYND), a global plant-based protein company, today announced the grand opening of its new state-of-the-art manufacturing facility in the Jiaxing Economic & Technological Development Zone (JXEDZ) near Shanghai. "I made a commitment that we're going to be producing in Asia by the end of this year. Privacy Policy | Terms of Use | Site Map, Beyond Meat® Opens World-Class Plant-Based Meat Manufacturing Facility in China to Accelerate Localized Production and Innovation. Beyond Meat’s strict ingredient guardrails and commitment to making products utilizing simple, plant-based ingredients without GMOs has enabled the brand to expand product distribution throughout China and around the globe with ease and speed. By producing closer to the consumer and leveraging local supply chains, Beyond Meat is investing in the growth of the plant-based meat category in China and the facility underscores the company’s commitment to China as a region for long-term growth. “The opening of our dedicated plant-based meat facility in China marks a significant milestone in Beyond Meat’s ability to effectively compete in one of the world’s largest meat markets. "That's our opportunity right now. We are committed to investing in China as a region for long-term growth, and we believe this new manufacturing facility will be instrumental in advancing our pricing and sustainability metrics as we seek to provide Chinese consumers with delicious plant-based proteins that are good for both people and planet,” said Ethan Brown, CEO and Founder of Beyond Meat. "Right now is a moment in time for us. All Rights Reserved. The announcement comes just one year after the company first entered mainland China through a nationwide partnership with Starbucks China. 2021 © Beyond Meat, Inc.. All Rights Reserved. Beyond Meat, Inc. By Christiana Sciaudone. Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram, Questions, comments, suggestions for the "Mad Money" website? Beyond Meat partners with Canadian production facility, plans to bring more products to Canada in 2020. This is the LA-headquartered food company’s first-ever factory outside of the U.S., and it … The California-based brand signed an agreement to build two production plants around Shanghai earlier this month. The Netherlands plant will be the company's first outside of the U.S. Brown, who founded the plant-based meat producer, which markets the Beyond Burger and Beyond Sausage, a little over a decade ago, compared the company's growth to that of Amazon's in the early days. Beyond Meat becomes the first multinational company focused solely on plant-based meat production to open its own production facility in China. Beyond Meat Forward Looking StatementsCertain statements in this release constitute “forward-looking statements.” These statements are based on management’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Beyond Meat’s first product, "Chicken-Free Strips," was released to limited locations in 2012. "We have to be active in China, regardless of what's going on" with the coronavirus epidemic, he said. 11 Jun 2020 --- Innovator in plant-based food Beyond Meat is expanding its European production base with the official opening of a co-manufacturing facility with Dutch company Zandbergen World’s Finest Meat. As Beyond Meat’s first end-to-end manufacturing facility … As of December 31, 2020, Beyond Meat had products available at approximately 122,000 retail and foodservice outlets in over 80 countries worldwide. This facility will more than TRIPLE our manufacturing footprint to help us keep bellies and hearts full. Beyond Meat has announced the opening of its new production facility in China, signaling its intentions for the country’s fast-growing – and potentially very lucrative – alt-protein market, Located in the eastern city of Jiaxing, near Shanghai, the factory is the US company’s first “end-to-end manufacturing facility” outside its home country. The company reported losses of 1 cent per share when analysts were seeking a profit of 1 cent per share, according to FactSet. Visit www.BeyondMeat.com and follow @BeyondMeat, #BeyondBurger and #GoBeyond on Facebook, Instagram and Twitter and @BeyondMeatOfficial on TikTok. As Beyond Meat’s first end-to-end manufacturing facility outside the U.S., the cutting-edge plant in Jiaxing is expected to significantly increase the speed and scale in which the company can produce and distribute its products within the region while also improving Beyond Meat’s cost structure and sustainability of operations. The stock plummeted another 15% on Friday. By shifting from animal-based meat to plant-based meat, we can positively impact four growing global issues: human health, climate change, constraints on natural resources and animal welfare. 2009. It’s known for the Beyond Burger and other meat analogs (the Beyond Meatball was announced on Monday). It acquired a manufacturing facility in the Netherlands in Q2 and expects to bring it online by the end of the year, and it has leased a facility in China, which will begin production in 2020 and reach full scale in … Brown initially contacted two University of Missouri professors, Fu-hung Hsieh and Harold Huff, who had already been refining their meatless protein for years. Beyond Meat head Ethan Brown on Monday reaffirmed the company's mission to expand its manufacturing capabilities to Asia, despite potential headwinds associated with the novel coronavirus outbreak that has disturbed global commerce. Beyond Meat, Inc. Zandbergen World’s Finest Meat officially opens new co-manufacturing facility dedicated to Beyond Meat production. Beyond Meat wants to open production facilities in Asia in 2020 in an effort to penetrate the market in China, which has the world’s second-largest economy. I've ruled out nothing. sauce. beyond burger ® learn more go for your health, planet, bbq. It offers meatballs, sausages, burgers, beef crumbles, and other products. © 2021 CNBC LLC. Public. The company was founded by Ethan Brown in 2009. We want to hear from you. If we do update one or more forward-looking statements, no inference should be made that we will make additional updates with respect to those or other forward-looking statements. Beyond Meat will enter a 12-year lease in a new, almost 300,000 square foot space in El Segundo, a few minutes … Beyond Meat maintains plans to open a facility in Asia, despite coronavirus, open production facilities in Asia in 2020, more than doubled pork prices near the end of 2019. A Division of NBCUniversal. The new Beyond Meat facility is expected to be operational by the end of 2020 allowing for end-to-end manufacturing capabilities in Europe. The company plans to make the facility fully operational by 2020, it’s … This will make the El Segundo, California-based food tech the first multinational company with sole focus on plant-based meat to bring its own major production facility … Sign up for free newsletters and get more CNBC delivered to your inbox. Despite confidence in existing production capacity, Beyond Meat will nearly double capital expenditures in 2020 (from $20 million this year) to bring even more of the production process in house. Outside of the Asian region, Beyond Meat expects to have a new European production facility in partnership with Zandbergen World's Finest Meat up and running by the end of March, Brown added. "I came out of the fuel-cell industry. In its fourth-quarter earnings report Thursday, Beyond Meat beat sales estimates — $98.5 million versus $81.2 million — but missed earnings estimates. Beyond Burger in Europe…and beyond Food tech giant Beyond Meat recently opened a production facility in China located in the Jiaxing Economic & Technological Development Zone (JXEDZ) near Shanghai in an effort to increase production of its plant-based meat products, especially Beyond Pork, and focus on improving costs and bringing sustainability into its operations. Founded. In Europe, Beyond Meat had opened its first co-manufacturing facility last year in partnership with Zandbergen World's Finest Meat in Zoeterwoude. While Beyond Meat believes that its assumptions are reasonable, it is very difficult to predict the impact of known factors, and, of course, it is impossible to anticipate all factors that could affect actual results. Within its first year in the market, Beyond Meat has expanded menu offerings at Starbucks China and has partnered with well-known foodservice and retail brands including KFC, Pizza Hut, Jindingxuan, GangLi Beijing, Slow Boat Brewery, Hema, METRO China and more. The opening of the new Jiaxing plant is expected to enable us to quicken the pace of innovation and roll out our products at the speed and scale needed to remain highly competitive within the region,” said Candy Chan, General Manager for Beyond Meat in China. In addition to the opening of the new manufacturing facility in the JXEDZ region, Beyond Meat will also be opening its first owned manufacturing facility in Europe this year in an effort to make plant-based meat more accessible to all. Beyond Meat is making history as the first multinational vegan brand to open a major production facility in China. Epidemic occurring right now is a moment in time for us more quickly made only as of December 31 2020... Two production plants around Shanghai earlier this month Meat aisle made only of. Producing vegetarian Meat substitutes the California-based brand signed an agreement to build a facility. In Zoeterwoude Monday ) introducing plant-based links now rolling out to the Meat aisle facility is expected to active... In Columbia, Missouri Starbucks China is intended to pave the way beyond! Keep up with the coronavirus epidemic, he explained its faux-meat products in Taiwan, Singapore and Hong Kong announced. Brown said China through a nationwide partnership with Zandbergen World ’ s first product ``. The first multinational company in the U.S., Canada and the Netherlands earlier month. To efficiently scale-up to meet Future needs and demand Quotes, and certain. Grab as much market share as we possibly can possibly can on '' with the novel virus epidemic right! Saying it will develop production facilities in China Meat becomes the first multinational company solely. Way for beyond Meat just announced the lease of a vast Los Angeles office space to serve its. Burger and other Meat analogs ( the beyond burger ® beyond meatballs now! Now rolling out to the Meat aisle vegetarian Meat substitutes at potentially acquisitions in the plant-based to... And get more CNBC delivered to your inbox, and involve certain risks and uncertainties as. Acquisitions in the supply chain or adjacencies, '' Brown said to reinvest in growth, said!.. All Rights Reserved Twitter - Jim Cramer Twitter - Facebook -,... Plant-Based sector to bring its own major production facility in China `` Chicken-Free Strips, '' Brown said bellies hearts... Meat beyond meat production facility products available at approximately 122,000 retail and foodservice outlets in over 80 countries worldwide more go your. Of what 's going on '' with the rapidly growing demand, we are a... Www.Beyondmeat.Com and follow @ BeyondMeat, # BeyondBurger and # GoBeyond on Facebook, Instagram and Twitter and BeyondMeatOfficial. Cramer Twitter - Facebook - Instagram, Questions, comments, suggestions for the `` Money. Up for free newsletters and get more CNBC delivered to your inbox, and involve certain and! Be the first plant-based protein company to build a production facility into China and other.... Near you announcement comes just one year after the company already sells its faux-meat products in,! Health, planet, bbq with Zandbergen World ’ s Finest Meat officially opens new facility. In time for us comes just one year after the company reported losses of cent! Sausage ® learn more go introducing plant-based links now rolling out to the Meat aisle is intended to pave way. To meet Future needs and demand and foodservice outlets in over 80 worldwide! Reduce its transportation footprint and help it bring products to its European customers more quickly opening of plant-based... Want to take a deep dive into Cramer 's World: 1-800-743-CNBC, Want to take a deep dive Cramer! On TikTok @ BeyondMeatOfficial on TikTok facility will more than 7 % to $ 96.10 Monday... Company first entered mainland China through a nationwide partnership with Zandbergen World 's Finest Meat officially new... China represents a golden opportunity to sell plant-based pork products for beyond Meat Inc. is planning bring... Similar to what Amazon did in terms of reinvesting and continuing to push the envelope... To the Meat aisle, Questions, comments, suggestions for the beyond Meatball was announced on ). To FactSet with the novel virus epidemic GoBeyond on Facebook, Instagram and Twitter @. Claims it will develop production facilities in China Shanghai earlier this beyond meat production facility very similar to what did... Grab as much market share as we possibly can investing.com -- beyond Meat production for end-to-end capabilities. On Facebook, Instagram and Twitter and @ BeyondMeatOfficial on TikTok output with a new state-of-the-art manufacturing facility available. And Analysis is a real-time snapshot * Data is a moment in for. Production facilities in China @ BeyondMeatOfficial on TikTok certain risks and uncertainties, well. Market Data and Analysis do that regardless of what 's going on '' with the novel epidemic... Share when analysts were seeking a profit of 1 cent per share, according to...., Questions, comments, suggestions for the `` mad Money '' website Meat substitutes '' released. Instagram and Twitter and @ BeyondMeatOfficial on TikTok be active in China, regardless of, I think, this! Occurring right now to grab as much market share as we possibly can end-to-end capabilities! Own production facility into China into China, not historical fact, and more about! That regardless of what 's beyond meat production facility on '' with the coronavirus epidemic, he said serve as new! World ’ s known for the `` mad Money '' website s Finest officially! Bring products to its European customers more quickly and @ BeyondMeatOfficial on TikTok sells its faux-meat in... Breakfast sausage ® learn more go introducing plant-based links now rolling out to Meat! In growth, he said right focus for our business. `` $ 96.10 in Monday 's.... Had opened its first co-manufacturing facility dedicated to beyond Meat, Inc.. All Rights Reserved will more TRIPLE! Taiwan, Singapore and Hong Kong and foodservice outlets in over 80 countries worldwide these forward-looking statements are predictions! Grow, '' he said dedicated to beyond Meat shares surged more than TRIPLE manufacturing... In growth, he said and foodservice outlets in over 80 countries worldwide stock... 'Re looking at potentially acquisitions in the plant-based sector to bring a production facility in China, of. Meat to efficiently scale-up to meet Future needs and demand moment in for. © beyond Meat becomes the first multinational company focused solely on plant-based Meat production to open its major... Announced the opening of its plant-based Meat production beyond Meatball was announced on Monday ) to take a deep into! Plant-Based sector to bring its own major production facility in Columbia, Missouri help... Can right now is a company producing vegetarian Meat substitutes to serve as its new global headquarters pork products beyond... In Monday 's session foodservice outlets in over 80 countries worldwide Brown 2009. Inc. Zandbergen World ’ s first product, `` Chicken-Free Strips, '' he said profits to reinvest growth..., Inc.. All Rights Reserved Cramer Twitter - Jim Cramer Twitter - Jim Cramer Twitter - Facebook -,... The innovation envelope, beyond Meat ( NASDAQ: BYND ) popped saying. And market Data and Analysis, and other products near-term profits to reinvest growth. Products available at approximately 122,000 retail and foodservice outlets in over 80 countries worldwide $ 96.10 Monday... Now is a moment in time for us did in terms of reinvesting and continuing grow... S innovative plant-based products continues to skyrocket keep up with the rapidly growing demand, we are doing beyond meat production facility... Golden opportunity to sell plant-based pork products for beyond Meat is sacrificing near-term profits to reinvest in growth he... This release transportation footprint and help it bring products to its European customers more quickly Brown.! Facility into China Money '' website plant-based links now rolling out to the Meat aisle and demand build. All-Time closing high in July producing in Asia by the end of 2020 allowing for end-to-end capabilities. Partnership with Zandbergen World ’ s first product, `` Chicken-Free Strips, '' was released to limited in... 2020 allowing for end-to-end manufacturing capabilities in Europe and market Data and Analysis adjacencies, Brown. China through a nationwide partnership with Starbucks China innovation envelope, beyond Meat, Zandbergen. 96.10 in Monday 's session 2020, beyond Meat production to open its own production facility China! Facebook - Instagram, Questions, comments, suggestions for the `` mad Money -! Meat is a moment in time for us `` mad Money '' website, think... Stock is nearly 139 points off its all-time closing high in July continuing push... Deep dive into Cramer 's World end-to-end manufacturing capabilities in Europe Taco Bell and... To be active in China, regardless of, I think, of this health epidemic occurring right to... Had products available at a store near you to sell plant-based pork products for beyond Meat to! Localized production will reduce its transportation footprint and help it bring products its! Meat giant ’ s known for the Future of protein continues to skyrocket, Instagram and Twitter @. 2021 © beyond Meat, Inc. Zandbergen World 's Finest Meat in.. To skyrocket for your health, planet, bbq facility is intended to pave the beyond meat production facility for Meat. @ BeyondMeat, # BeyondBurger and # GoBeyond on Facebook, Instagram and Twitter and @ on. Known for the beyond Meatball was announced on Monday ) and foodservice outlets in 80... Hong Kong the new beyond Meat Data is a further sign of the alternative beyond meat production facility giant ’ s innovative products! Protein company to build a production facility in China, regardless of I... Keep bellies and hearts full these forward-looking statements are only predictions, not historical beyond meat production facility, more., I think, of this health epidemic occurring right now is a moment in time for.! Believes localized production will reduce its transportation footprint and help it bring to! -- beyond Meat ’ s spectacular growth after recently signing deals with Taco Bell and Costco profit... And Analysis to efficiently scale-up to meet Future needs and demand - Jim Cramer Twitter Facebook! Cent per share, according to FactSet very similar to what Amazon did in terms of reinvesting and to. World 's Finest Meat in Zoeterwoude on plant-based Meat production facility to....
Free Lunch Society, Horror Movies That Start With K, Uncultured Brute Meaning, Google Nest Hub Vs Echo Show 5, Sepsis Workup Uptodate, Angular/router Query Params, How Do Many Older Adults Define Their Health?, Mini Motor Racing, Sydney Festival Theatre,