13th April,
2000
Ground Breaking Ceremony of Vitasoy
Australia Products Pty Ltd
The ground-breaking ceremony marking the partnership
between Vitasoy International Holdings Ltd. of Hong
Kong and National Foods Limited of Australia took place
on Thursday 13 April, 2000 at Wodonga, Victoria, Australia.
The joint-venture - Vitasoy Australia Products Pty Ltd.
- will manufacture market and distribute VITASOY branded
soy beverages for the mainstream market in Australia.
With a total investment of HK$120 million, the plant
- due to be completed by early next year - represents
the first domestic production of VITASOY soy drinks.
Under the arrangement, Vitasoy will be the majority
shareholder with an equity stake of 51 per cent. National
Foods Limited - a leading Australian milk processor
and distributor which is listed on the Australian Stock
Exchange - will hold the remaining 49 per cent. The
plant will carry two production lines, one for UHT (Ultra
High Temperature) soy drinks and the other for fresh
soy beverages, to meet the rising demand for healthy
soy products from Australian consumers.
Speaking at the ceremony, Mr Winston Lo, Executive Chairman,
Vitasoy International Holdings, expressed his confidence
in the joint venture. "Vitasoy has been exporting
UHT soy beverages to this country for the past decade
and we have successfully established the VITASOY brand
as the second largest by sales value in Australia. Through
our relationship with National Foods, we will be able
to bring fresh soy beverage to the market and to increase
the market share through their strong nationwide distribution
network."
Also present at the ceremony were Mr. Max Ould, Managing
Director of National Foods Limited and state and local
officials.
It is believed that Australia is one of the western
countries which registers the highest consumption of
soymilk. Its per capita consumption of soy beverages
is about 2.5 litres per annum, far higher than the less
than 1 litre per annum level in the United States, for
instance.
Founded in 1940, Vitasoy International Holdings Ltd.
has successfully developed and launched a range of over
30 products in more than 120 different forms and sizes.
These products are sold in over 20 markets around the
world. The Group is one of the largest and most established
manufacturers and distributors of non-carbonated drinks
in Hong Kong.
National Foods Limited is Australia's largest publicly
listed dairy company with offices in all states of Australia.
For further information please contact:
Ms. Stella Lung,
Public Relations Department,
Vitasoy International Holdings Ltd.
Tel: 2468 9644
e-mail:
pubrel@vitasoy.com
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