Last updated: 15:17 - May 19, 2006
US group to build dairy factory in Vietnam http://www.nhandan.com.vn/english/business/190506/business_us.htm
Gannon Group, a us food production giant, has officially invested in Vietnam with a project to set up a dairy holding company.
The Vietnam Hi-tech Dairy Holding Company has a total investment capital of US $10 million. It specialises in producing fresh milk bearing Milky US trademark.
The company's dairy factory is built in Tan Duc Industrial Park in southern Long An province on 50 hectares. It is designed to process 30 million litres of milk annually. Key materials for Milky US purified products are imported from New Zealand and Europe.
Milky US also plans to produce yoghurt with fruit flavours soon. The company will also produce nutritious powder, fruit juice, amongst others.
Currently, Milky US has a network of 30 major distributors from central Da Nang city southwards.
Gannon expects that Vietnam will be the group's second fastest growing market, only after China, as 60% of the country's population of 80 million is under 20 years of age.
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