A leading Irish beef supplier announced on Thursday that it has signed a 50-million-euro (61.6 million U.S. dollars) contract to supply beef to China's mainland and Taiwan.
Under a three-year exclusive agreement recently signed with a Taiwan-headquartered restaurant chain Wowprime Corporation, the beef will be supplied to the 400 restaurants operated by Wowprime in the Chinese mainland and Taiwan, said an official with ABP Food Group, a leading food processor in Ireland with core business on beef products.
The signing of the agreement with Wowprime is a tangible endorsement of the quality beef we supply, said Mark Goodman, Managing Director of ABP's International Division.
It also marks another significant step in developing new market opportunities for our products against the uncertain backdrop of Brexit, said Mark.
Based in Ireland, ABP supplies products to over 200 Michelin starred restaurants across the world. It currently employs over 10,000 people and has 48 manufacturing plants in Ireland, Britain, Denmark, Poland, Austria, Holland, France and Spain.
Facing the increasing uncertainty in its traditional European market following Britain's decision to withdraw from the Europe Union, the company has recently quickened its step in exploring new market potentials in Asia, especially in the rapidly growing Chinese market.
Last month, the company also signed a contract with a Hong Kong-based supermarket chain to supply the latter with high quality beef products.