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Jollibee, Singaporean firm partner for a commissary in China
By Carlo P. Mallo, Photo by Ocs Alvarez
Jul 28, 2010
A subsidiary of fastfood giant Jollibee Foods Corp. has entered into a joint venture with a Singaporean firm to build a commissary in China. [Read lower expenses help Jollibee survive economic crisis here]
JFC told the Philippine Stock Exchange on Wednesday that Jollibee Worldwide Pte. Ltd. partnered with Hua Xia Harvest Holdings Pte. Ltd. to form Jollibee Foods Processing Pte. Ltd. , which will supply products to the foods service businesses "primarily" of the Jollibee Group.
"As the initial project, the joint venture plans to build and operate a food processing plant in Shucheng Oountry in Anhui Province in China. This commissary will supply the products for the restaurants of the Jollibee Group in China, initially, Yonghe King, for its stores in Shanghai and Beijing," JFC said.
The proposed food processing plant is easily accessible to the sources of agricultural products and is linked to the major road networks of China that links all the major cities.
The joint venture will invest an estimated RMB50 million, more or less P338 million, for the construction of the food processing plant. The investment includes the cost of the acquisition of the land use right. [Read Jollibee's Caffe Ti Amo to open more stores in Metro Manila here]
The Jollibee Group is operating two businesses in China – Yonghe King with 177 stores throughout Beijing, Shanghai, Shenzen, and Wuhan regions, and Hong Zhuan Yuan which has 49 stores in Beijing.
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