A technology transfer agreement between Delta Beverage Co, an affiliate of Daso-Dacco Corp, and the Italian giant Parmalat has seen Delta market Parmalat-branded fresh milk in Vietnam.
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Dang Ngoc Hoa, general director of Daso-Dacco and chairman of Delta, explained that the deal meant that in return for a 4% cut of revenue; Parmalat has licensed its technology to Delta.
He said that Delta intended to diversify its product offering with the deal, and run its factory at full capacity of 13 tons per hour.
“We have chosen the world-famous brand to compete with Vinamilk and Dutch Lady (previously known as Foremost) which have now dominated the local market,” Hoa said.
Mark Bacon, general manager of Parmalat Vietnam, added: “We wanted to enter Vietnam for a long time but have not gained much knowledge of the market, so we have to seek a local partner to bring our products to Vietnam.”
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By GlobalDataIf the deal is successful, the two companies say that they are likely to develop a joint venture.
