21st Sept.,
2001
Vitasoy Gears for Further Expansion
in Australian Market
Domestic production to capitalize on soy beverage market
potentia
Hong Kong, 21 September 2001
- Vitasoy International Holdings Limited ("VIHL"
or "the Group") has taken a strategic move
in Australia with the official opening of its first
plant in Wodonga, Victoria, which will give the Group
strength to further expand local soy beverage market.
The new plant is part of Vitasoy Australia Products
Pty Ltd.
Mr. Winston Lo, Executive Chairman of VIHL, said at
the opening ceremony of the Wodonga plant held today,
"The commencement of the new plant signifies another
key step taken by the Group towards market diversification,
which is highly important for the long-term growth and
development of VIHL."
Also present at the ceremony were The Hon John Brumby
MLA, Treasurer and Minister for State and Regional Development,
Mr. Barry Capp, Chairman of National Foods Limited,
and state and local officials.
Vitasoy Australia Products Pty Ltd. is the joint venture
between VIHL and National Food Limited of Australia
to manufacture, market and distribute VITASOY branded
soy beverages for the mainstream market in Australia.
Under the arrangement, Vitasoy is the majority shareholder
with an equity stake of 51 per cent. Construction of
the new plant commenced in April 2000 and has cost about
HK$106 million to build.
Mr Lo said, "The joint venture is a result of close
collaboration between VIHL of Hong Kong and National
Foods Limited of Australia. Both enterprises have worked
hard to make full use of the synergies each has brought
to the relationship.
"Vitasoy's main area of contribution has been its
technical know-how, garnered over 60 years' of experience
in soy drinks production. National Foods, meanwhile,
has knowledge of the distribution system in the Australian
market, especially of chilled products."
National Foods Limited is Australia's largest listed
dairy company which operates in all states of Australia.
The new plant carries two production lines - one for
fresh soymilk and one for UHT (ultra high temperature)
soymilk - both under the VITASOY brand. The total production
capacity of the plant is estimated at 35 million litres
per annum to meet the rising demand for healthy soy
products from Australian consumers.
The opening of the new plant represents the first domestic
production of VITASOY branded soy beverages in Australia.
Over the past 24 years, the Group has been exporting
all of its UHT soy beverages from Hong Kong and has
successfully established VITASOY as the second largest
brand by sales value in the growing mainstream market
in Australia.
The Australian soy beverage is a growing industry as
the population becomes increasingly aware of the health
benefits of soy. According to Mr. Lo, the market is
currently worth nearly HK$473 million and Vitasoy Australia
enjoys a market share of 19%.
Mr. Lo added, "With the Wodonga plant going into
production, Vitasoy is in a stronger position to expand
the market share for the long-term gain of the Group
as a whole.
"The keys to driving this growth will be the quality
of the products, the efficiency of production at the
new plant, and National Foods' proven ability to deliver
chilled products directly to retail outlets throughout
Australia."
Vitasoy International Holdings Limited is one of the
leading manufacturers and distributors of non-carbonated
drinks with a base in Hong Kong. Founded in 1940 and
with production facilities in Hong Kong, Mainland China,
the United States and Australia, Vitasoy has successfully
developed and launched more than 140 products in different
forms and sizes that are consumed in over 30 markets
throughout the world.
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For more information, please contact:
Stella Lung
Public Relations Manager
Vitasoy International Holdings Limited
Tel: 2468 9644 Fax: 2465 1008
e-mail:pubrel@vitasoy.com
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