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VietNamNews

Vinamilk announces export plan

Update: January, 29/2015 - 09:12
Last year, Vinamilk produced and launched 5 billion dairy products of all kinds into the market to serve domestic consumers. — VNS Photo
HCM CITY (VNS)  — The Viet Nam Dairy Products Joint-Stock Co (Vinamilk) will focus on exploiting Middle East, Africa, Cuba and US markets as its primary export strategy for the next three years.

The purchase of a 70 per cent stake of the US Driftwood dairy factory has brought the company good business results, with revenue of more than VND2.6 trillion (US$123.8 million) last year.

The company's total revenue reached nearly VND36 trillion ($1.7 billion), an increase of nearly 14 per cent compared to 2013.

Last year, Vinamilk produced and launched 5 billion dairy products of all kinds into the market to serve domestic consumers.

According to market research company Nielsen, Vinamilk takes the lead in sales and revenue in the group of fresh milk brands in Viet Nam.

To reach the revenue target of $3 billion and be included on the list of the world's top 50 biggest dairy firms by 2017, the company will also develop key export markets such as Cambodia, Poland, and Europe.

Last year, the company broke ground for factory construction in Cambodia with total investment of $23 million.

This year, when the factory is put into operation, revenue for the first year is expected to reach $35 million.

The company has also invested $3 billion in a company in Poland that will provide agricultural products and poultry to support key items of Vinamilk.

In addition, the company has bought a 19.3 per cent of stake of New Zealand's Miraka factory to develop exports.—VNS

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