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Vitasoy Breaks Ground on RMB1-Billion Dongguan Plant

2018-10-30 19:50
https://photos.prnasia.com/prnvar/20181030/2283691-1

New Plant to Commence Operation in 2021

HONG KONG, Oct. 30, 2018 /PRNewswire/ -- Vitasoy International Holdings Limited (SEHK Code: 00345) breaks ground today on its new manufacturing plant in Changping Town, Dongguan City of the Guangdong Province in mainland China.

Government officials from Dongguan City and Changping Town and industry representatives, as well as Vitasoy executives Mr. Winston Lo, Executive Chairman, Mr. Roberto Guidetti, Group CEO and Mr. Eric Zhong, CEO of Mainland China Operations, participated in the groundbreaking ceremony for the new Vitasoy Dongguan plant.
Government officials from Dongguan City and Changping Town and industry representatives, as well as Vitasoy executives Mr. Winston Lo, Executive Chairman, Mr. Roberto Guidetti, Group CEO and Mr. Eric Zhong, CEO of Mainland China Operations, participated in the groundbreaking ceremony for the new Vitasoy Dongguan plant.

The new Dongguan plant will be built on a land parcel encompassing 100,000 square meters. Upon completion in 2021, it will be Vitasoy's largest production base in Mainland China. Vitasoy will invest approximately RMB1 billion (equivalent to HK$1,210 million) in phases for the construction of the new plant. Production is expected to commence in 2021.

Government officials from Dongguan City and Changping Town and industry representatives who participated in the groundbreaking ceremony included Ms. Yali Zhao, Chairman of China Beverage Industry Association, as well as Vitasoy executives Mr. Winston Lo, Executive Chairman, Mr. Roberto Guidetti, Group CEO and Mr. Eric Zhong, CEO of Mainland China Operations.

Mr. Winston Lo said at the groundbreaking ceremony, "Mainland China is now our biggest and fastest growing market. The new Dongguan production base will be Vitasoy's biggest plant, but our commitment and determination goes beyond scale. The new plant will also provide us with adequate production capacity to support our future expansion."

The RMB1-Billion investment will include the price for land use right and the estimated cost of construction and production equipment of the new plant.

"We are determined to grow a healthy and sustainable business which can represent a model for the future and can contribute to the health of the communities we serve in Mainland China," Mr. Lo continued.

The new plant will be designed and built based on LEED (Leadership in Energy and Environmental Designed) Gold certification standards by the US Green Building Council to support Vitasoy's commitment to sustainable development and efficient use of resources.

About Vitasoy

Vitasoy International Holdings Limited is a leading manufacturer and distributor of plant-based food and beverages. Established in 1940 by the late Dr. Kwee-seong Lo in Hong Kong, the Company strives to promote sustainable nutrition through provision of a variety of high-quality products with Nutrition, Taste and Sustainability as the guidelines for its portfolio offerings. Vitasoy integrates social responsibility into its business and contributes to the communities that the company serves. Currently, Vitasoy has manufacturing operations in Hong Kong, Mainland China, Australia and Singapore. Its products are available in about 40 markets worldwide. Vitasoy is listed on the main board of the Hong Kong Stock Exchange (00345.HK).  Vitasoy website: www.vitasoy.com

Photo - https://photos.prnasia.com/prnh/20181030/2283691-1

Source: Vitasoy International Holdings Limited

Related stocks: HongKong:0345 OTC-PINK:VTSYF

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