Food & Beverage
Coke sees int'l markets key to long-term growth
2009-11-17
Coca-Cola Co (KO.N) said on Tuesday that international growth, cost savings, new marketing and innovation would be key of its plans to double its total system revenue by 2020.
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Coca-Cola aims to double system revenue by 2020
2009-11-16
Coca-Cola Co (KO.N) unveiled goals on Monday that call for the revenue generated by the company and its bottlers to double to roughly $200 billion by 2020, with profit margins increasing. Coke also said it hopes to more than double the number of soft drink servings it sells to more than 3 billion per day by the end of 2020.
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Tesco march on China with shopping mall venture
2009-11-13
Britain’s largest retailer, Tesco, is to invest about £100m in a joint venture to develop shopping malls in China which will see its hypermarkets as an anchor tenant, according to reports. The company is to build large shopping centre developments in Fushan, Anshan and Qinhuangdao in a 50-50 joint venture with HSBC Nan Fung China Real Estate Fund, Metro Holdings of Singapore and Nan Fung Group of Hong Kong.
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China shall expand rice bran oil to address shortages
2009-11-09
China, the world's largest rice producer and consumer, will expand production of rice bran oil to help ease shortages of edible oil supplies, a company executive said on Monday.
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Coca-Cola’s Minute Maid Pulpy Super Milky launches in China
2009-11-05
Coca-Cola presents a mix of fruit juice, milk powder, whey and coconut called Minute Maid Pulpy Super Milky drink to markets in Beijing, Guangdong and Zhejiang provinces in China. The company plans to launch the product in 300 cities across China by the end of 2009.
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Coca-Cola opens largest China still beverage investment
2009-10-16
Coco-Cola has committed to investing RMB 600 MM in China over the next three years to meet growing demand from Chinese consumers, which is the largest single beverage investment in the country.
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Danone sells Wahaha venture stake, builds war chest
2009-09-30
French Food group Danone (DANO.PA) agrees to sell 51 percentage of its stake in joint venture to Wahaha, one of China’s biggest beverage makers, and will put an end to all legal proceedings related to the disputes between the two parties.
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Wuliangye violated disclosure rules
2009-09-23
Wuliangye Yibin (000858.SZ) reported that it did not disclosure a securities investment loss and was found to have discrepancies in its revenue. The price of its share has fallen 10.4 pct since the investigation by authorities was announced.
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Russian business plans massive expansion of Chinese retail
2009-09-21
Gleb Fetisov, who is co-owner of one of the largest Russian Banks, could become the first Russian businessman to invest in China’s retail trade. His investment group is going to invest more than $50 million in New Cooperation Trade China (NCS), one of the largest Chinese retail chains.
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UK has overtaken France as the biggest wine exporter to Hong Kong
2009-09-21
Thanks to the abolition of import duties, UK has overtaken France as the biggest wine exporter to Hong Kong, as it has increased its share of the market from 20% to 33% while France’s has slipped from over 35% to 31.6%. Australia, in third place, has an 8.7% share followed by the US, Chile, Switzerland and Italy.
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Carlyle buys minority stake in China dairy maker Yashili
2009-09-20
The Carlyle Group has bought a 17.3 pct stake in Yashili to help the leading Chinese infant formula maker improve its research and production despite the international financial crisis. After the deal, Carlyle will help Yashili hire an industry veteran as chief quality officer for the dairy maker and it also plans to strengthen quality control of dairy production as applying international standards.
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Asian Citrus FY profit up; confident of current year
2009-09-15
Asian Citrus Holdings Ltd (ACHLA.L), a China-based orange-plantation owner, posted a 20 pct rise in full-year pretax profit from 367.7 million RMB last year to 442.3 million RMB. The company said it was not looking at exports at the moment, as they account for about 2.5 pct of the overall market share, especially since China’s stimulus plan of 4 trillion RMB aims to promote domestic demand. The finance director said the largest capital expenditure for the group will be investment in its Hunan plantation in the next few years.
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36,000 metric tonnes of palm oil from Ghana heading to China
2009-09-14
Ghana is to export 36,000 metric tonnes of palm oil to China next year following the conclusion of a $21.6 million deal between Chyuan Chya Ghana Limited and the China-Africa Economic Trade Limited. China has been looking for more palm oil elsewhere after importing the product from Malaysia for about 10 years. The President of China-Africa Economic Trade Limited, Mr Liu Yang, who signed on behalf of his company, said that “the produce order would increase if Ghana can produce more”.
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Paprika and grapes from South Korea to enter Chinese Market
2009-09-14
South Korea could be permitted to export paprika to China after next year and grapes in 2011. In exchange for exporting paprika and grapes, Seoul will do its part to allow Chinese lichi and squash to be imported in the 2010 – 2011 period.
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US-China tire spat could hurt chicken feet
2009-09-14
China decided to investigate whether imported U.S. chicken and autos are being dumped on the Chinese market. But US denied the dumping allegations because chicken feet, which represent about half the value of US chicken sold to China annually, are worthless in US market. Shares of top U.S. chicken producer Tyson Food Inc (TSN.N) fell nearly 3 pct and no. 2 producer Pilgrim’s Pride Corp. (PGPDQ. PK) dropped 2 pct in Monday’s trading in response to China’s allegations of dumping.
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