24th May, 2000
Soyfoods Visionary Looks to the
Future while Honoring Her Heritage
Yvonne Lo, President of Vitasoy USA Inc. is Elected
as President of Soyfoods Association of North America
(SANA) and is Presented with the Prestigious US Pan
Asian American Chamber of Commerce (USPAACC) Excellence
2000 Award.
Hong Kong-born soyfood industry veteran, Yvonne Lo,
has been recently elected President of the Soyfoods
Association of North America (SANA) and presented with
the US Pan Asian American Chamber of Commerce (USPAACC)
Excellence 2000 Award in Business. Ms. Lo is the founder
and President of Vitasoy USA Inc., the US subsidiary
of Hong Kong-based Vitasoy International Holdings Limited.
SANA represents 60 North American companies in the soyfood
industry, covering the United States, Canada and Mexico.
As president of SANA, Ms. Lo hopes to elevate the Association's
position and continue to foster the growth of soyfood
industry in North America by promoting the consumption
and health benefits of soy-based foods and ingredients.
North America, especially the United States, is one
of the fastest growing soyfoods markets in the world.
With more than 600,000 farmers growing soybeans in 29
states, the US is also a leading soy producer. Due to
widely reported health benefits of soyfoods, consumer
interest has risen dramatically and created a growth
surge within the soyfood industry. According to Soyatech,
Inc., sales of soyfoods in the US have seen continuous
growth over the past decade with the expectation that
soyfood sales will increase more than 20% a year through
2002. The US Soyfoods Center has found that over 12,000
soyfoods are already available in the market with 500
new products debuting in the market every year.
The US Pan Asian American Chamber of Commerce (USPAACC)
has awarded Yvonne Lo with one of its highest honours
- The Excellence 2000 Award in Business. This award
is presented to a select group of the best and brightest
Asian Americans for their outstanding achievements and
contributions to the quality of life in America.
"I am honoured to accept this award from such a
prestigious organization that recognizes and supports
Asian/American business enterprises," remarked
Lo. "The USPAACC clearly embodies East meets West
business ingenuity while supporting growth and accomplishments
of those of us who have traveled to the US to share
our wisdom."
Lo is pleased to be part of an alumni group of past
award recipients that honours celebrities, artists,
academicians, and successful business men and women.
This exclusive group includes Yo-Yo Ma, a world renown
cellist; Tiger Woods, a professional golfer; Jackie
Chan, film star; Subrahmanyan Chandrasekhar, PhD., a
1973 Nobel prize recipient; and Andrea Jung, current
president of Avon Products, Inc.
In a market that is barely 30 years old, Yvonne Lo has
been playing a significant role in popularizing soymilk
and tofu in mainstream American supermarkets. Twenty
years ago, having been strongly influenced by her family’s
belief in the benefits of soy, Lo started Vitasoy USA
by going store-to-store in major US metropolitan Chinatowns
selling and distributing Vitasoy soy beverages. Under
Lo's leadership, Vitasoy USA Inc. has become a foremost
US soyfood company and commands US$60.5 million in revenues
generated from the ethnic, natural foods and mainstream
supermarkets, with product lines that range from soymilk
to tofu to Asian pastas and teas.
"When I started this company, my dream was to make
soymilk and tofu as an American favorite like hotdogs
and apple pie is in the US market." said Lo. "With
the recent US FDA health claim for soy and preventing
heart disease in addition to new advances in food technology,
I am seeing my dream come true as more Americans than
ever are enjoying delicious and healthy soy products."
At present, Vitasoy USA has two plants in the US that
produce soymilk, tofu and Asian pastas. The Company's
tofu business commands 48% market share in supermarkets
coast to coast. In fiscal 1999, Vitasoy USA Inc. achieved
a gross revenue of over US$60.5 million dollars, a whopping
18% growth from 1998.
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For further information, please contact :
Stella Lung
Public Relations Manager
Vitasoy International Holdings Ltd.
Tel: 2468 9644 or e-mail :
pubrel@vitasoy.com
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