Barrington Foods International has announced that its board of directors approved the 50/50 joint venture in Vietnam and Thailand together with the establishment of a representative office in Ho Chi Minh City (formerly Saigon).
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The joint-venture partner is a privately owned food distributor based in Ho Chi Minh City with offices also in Hanoi. With over ten years experience, the local partner will distribute Barrington’s food products, including infant, toddler, and adult formulas to retail outlets throughout Vietnam.
Vietnam has a population of over 77 million people and trade relations between Vietnam have normalised with the US in recent years, putting “American” made products in high demand.
The first container of products to Vietnam is scheduled for March 2002 shipment out of the Port of Oakland, CA. To date, the company has received purchase order invoices for US$47,000 in products at wholesale from the joint venture.
Barrington Foods is establishing banking and financial relationships for the issuance of international Letters of Credit to facilitate the shipment of product to Vietnam and other parts of Southeast Asia.
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