Nam Duong International Food Co., Ltd will
implement the project with a total investment capital of 577.2 billion VND (equivalent
to 25.6 million USD) to build a new factory in Hiep Phuoc Industrial Zone (Nha
Be, Ho Chi Minh City).
Accordingly, Nam Duong International Food Co.,
Ltd is a joint venture between Saigon Co-op (a large retailer in Vietnam) and
Wilmar International Limited (Singapore) with the capital contribution ratio is
49% and 51% respectively.
After the joint venture was established, the
preparing procedures for the new factory will be conducted expeditiously. The
factory will specialize in manufacturing sauces and spices to serve the
domestic and export market.
The brand “Nam Duong” owned by Saigon Co.op,
which was founded in 1951, is one of the brands in the sauces and spices industry in Vietnam, with products: soy sauce, sauce, chili
and tomato sauce. These products are preferred by domestic and abroad
consumers. These products are now being exported to markets such as the US, Canada and Europe.
As the leading retailer in Vietnam, Saigon Co.op understands the
trend, tastes and appetites of consumers. On the other hand, Wilmar Group which
has extensive experience in manufacturing and distribution of food worldwide.
Through this joint venture, the Nam Duong’s sauces and spices products will
meet the international production standards and safety and will be sold in a
global distribution network but still preserve the traditional flavors in each
product.
The main objective in the development strategy of Wilmar is aimed at
building and developing closed business models with diverse agricultural
commodities, proactive from input raw materials to produce and distribute
finished products. Currently, the Group has more than 500 factories in China,
India, Indonesia, Indonesia, Vietnam and 50 other countries worldwide. The
Group develops based on multinational human resources base with 92,000
employees.
Further
information
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