Universal Robina Corp, the consumer food unit of conglomerate JG Summit Holdings will open a new $15m factory in Vietnam this month, president and chief operating officer Lance Gokongwei said, according to a report by XFN-Asia.
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“It is already 98% complete and we should begin operation this month,” he told reporters.
URC, which aims to become a key player in Asia, operates factories in China, Thailand, Malaysia, Indonesia, Singapore, and Hong Kong.
But after the opening of the new factory in Vietnam, Gokongwei said URC will focus on expanding its operations in Thailand and Indonesia where it is the market leader in biscuits and candies, respectively.
“We remain committed to invest in these countries [Thailand and Indonesia]. We are stopping after Vietnam. There are no current plans to go elsewhere,” Gokongwei said.
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By GlobalDataIn the Philippines, URC is a leading market player in snacks, candies, chocolates, biscuits, cup noodles, and canned beans. It also sells instant noodles, coffee, ice cream, pasta and tomato-based products.
