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Wilmar International Establishes Vietnam Joint Venture Specialising In Condiments
Daily Bulletin | 28 October 2015
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Wilmar International and Saigon Union of Trading Cooperatives (Saigon co-op) have announced the execution of a joint venture contract to establish Nam Duong International Foodstuff Corporation, a limited liability company to be incorporated in Vietnam specialising in the manufacture of sauces and condiments for both domestic and export markets.

Nam Duong International Foodstuff Corporation shall undertake a project with a total investment capital of VND577.2 billion (equivalent to US$25.6 million) to construct a new factory in Ho Chi Minh City which will take over the current operations of Saigon Co-op’s factory for the manufacture of sauces and condiments sold under the Nam Duong brand.

The group and Saigon Co-op will each hold 51 percent and 49 percent stake in the joint venture corporation respectively.

Wilmar Int'l  3.580 -0.01 -0.28%   
Business: Co's integrated agribusiness model encompasses the entire value chain of the agricultural commodity processing biz, from origination and processing to branding, merchandising and distribution of a wide range of agricultural pdts.

Insight: May-19, 1Q19 revenue fell 6.2% to US$10.4b driven ... Read More

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