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| Việt Nam’s dairy giant, Vinamilk, marked its presence in the local sugar industry by debuting the Việt Nam Sugar Joint Stock Company (Vietsugar) on Tuesday in central Khánh Hòa Province’s Cam Lâm District. — Photo kinhtedothi.vn |
KHÁNH HÒA – Việt Nam’s dairy giant, Vinamilk, marked its presence in the local sugar industry by debuting the Việt Nam Sugar Joint Stock Company (Vietsugar) on Tuesday in central Khánh Hòa Province’s Cam Lâm District.
In a move to ensure sufficient raw material for business expansion, Vinamilk this year has spent nearly VNĐ1 trillion (US$44 million) on acquiring a 65 per cent stake of the Khánh Hòa Sugar Co and changing its name into Vietsugar.
Representatives of Vinamilk said that Vietsugar, which was launched from a strategic handshake between two long-standing companies in Việt Nam’s food industry, will open a new direction for the local sugar industry by gradually helping sugarcane farmers in Khánh Hòa province and neighbouring localities improve their competitiveness and actively integrate into regional and global markets.
Established in 1989, Khánh Hòa Sugar Co has a current production capacity of 1,500 tonnes of sugar each day and strives to raise its daily capacity to 2,000 tonnes of sugar in the future. — VNS
