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Kinh Do opens confectionery factory in Binh Duong
Tuesday,  Dec 16, 2008,18:58 (GMT+7)

Kinh Do opens confectionery factory in Binh Duong

By Quoc Hung - The Saigon Times Daily

Employees of Kinh Do Group work at the new factory in Binh Duong Province on Monday - Photo: Quoc Hung
HCMC – Kinh Do Group, Vietnam’s leading confectioner, on Monday started up a new confectionery factory in the southern province of Binh Duong’s Vietnam-Singapore Industrial Park (VSIP) to celebrate its 15th anniversary.

Le Phung Hao, deputy general director of Kinh Do Group, said the 9-hectare factory costing nearly VND400 billion would produce items for both home and overseas markets.

This is the biggest and most modern facility among Kinh Do’s eight factories in the country, he said. Its technology and production lines were imported Vị trí đặt quảng cáofrom Italy, Denmark, the Netherlands and the U.S. and accredited with the latest control systems like HACCP, GMP and ISO 14000.

The new factory also has a research and development (R&D) center with equipment meeting regional and international standards, he said.

The new factory has a capacity 1.5 times higher than that in HCMC’s Thu Duc District, according to the group.
Kinh Do expects the new facility would help to bolster its total sales in 2010 to around VND3 trillion (US$187 million) a year with export revenue making up US$30 million.

The opening of the new factory will enable the group to maintain the leading position in the domestic confectionery market, Hao said.

Kinh Do was established in 1993 with chartered capital of VND1.4 billion. The company now has 11 member companies with combined chartered capital of around VND2.3 trillion.

Total annual revenue of the company’s food section this year is expected to amount to more than VND3 trillion with a profit of VND300 billion.

It has a network of 32 Kinh Do Bakery outlets, 200 distributors and 75,000 retail stores. Besides, the company has 335 distributors and 104,000 retail stores for the beverages section, and 70 distributors and 15,000 retail stores for the ice cream section.

To realize its goal of becoming a diversified group, Kinh Do is investing heavily in modern technology, engaging in mergers and acquisitions and forming partnerships.

It is expanding to some other business spheres such as real estate, financial and securities.

It will spend hundreds of millions of U.S. dollars developing two property projects in HCMC next year – an apartment complex in Hiep Binh Phuoc Ward in Thu Duc District and a high-rise building at the premises of the International Trade Center in the city’s downtown area.

The apartment complex will cover more than five hectares on National Road 13, and include 18 buildings of 14-20 stories each to supply 1,811 units in total. The VND845-billion construction will take four years.

Kinh Do will join hands with two other local firms to develop the US$137-million SJC Tower project at the site of the International Trade Center which was hit by an inferno in October 2002.

This project includes apartments, offices and department store and will be developed by Kim Cuong Joint Stock Company, which is 50% owned by Kinh Do and the rest by Saigon Jewelry Holding Company (SJC) and VinaCapital. The tower designed by a U.S. company will have 45 stories and six basements.

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