Universal Robina Corp. Enters Chewing Gum Market
The company added that it would allocate PHP 5.6 billion (about USD 114 million) of the expansion budget to its consumer foods operations, such as its multi-product beverage line in the Philippines and biscuit facilities in Thailand, Vietnam and China.
26/04/07 As part of its expansion plans, Philippine food conglomerate Universal Robina Corporation will spend an initial PHP 1.9 billion (USD 40 million) to boost its biscuit and wafer lines in Thailand and Vietnam.
With a view to strengthen its leadership in the branded convenience foods business in the region, Univeral Robina will be also entering the chewing gum market, which is valued at PHP 2 billion (nearly USD 40 million), the company said in a statement to the Philippine Stock Exchange.
In January 2007, FLEXNEWS reported that Universal Robina said it would invest PHP 7.1 billion (about USD 145 million) this year to finance a regional expansion. The company added that it would allocate PHP 5.6 billion (about USD 114 million) of the expansion budget to its consumer foods operations, such as its multi-product beverage line in the Philippines and biscuit facilities in Thailand, Vietnam and China.
