Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Business / Food & Beverage Tools: Save | Print | E-mail | Most Read | Comment
JG Summit bites biscuit
Adjust font size:

Leading Philippine food maker JG Summit Holdings Inc has invested up to US$30 million to build a biscuit plant in Shanghai, part of an aggressive plan to take on Nestle and Nabisco in China.


The plant will begin production at the end of this month, making 10,000 tons of biscuits a year under the name Aces it acquired from a local rival in 2005, according to John Gokongwei Jr, the founder and chairman emeritus of JG Summit, yesterday.


JG Summit also plans to make snack foods, cereals and instant coffee in China.


"China's biscuits industry is very fragmented. There are really no global or nationally known brands and products," the 81-year old Chinese Filipino said. "But that will change. Big conglomerates will dominate the whole country in the coming years."


The move extends JG Summit's competition against Nestle, Nabisco and Danone.


Kraft, which has just acquired the biscuits business of Groupe Danone, also plans to step up efforts such as strengthening its distribution network and broadening its biscuit portfolios to compete for the top spot in China's biscuits sector.


JG Summit, along with its major food product subsidiary, Universal Robina Corp (URC), has invested a total of 300 million yuan in China's food industry since it entered the market in 1996.


The company plans to add between US$50 million and US$60 million in China's food industry annually to boost production and complete product line-up. It now operates three plants in China, making Jack 'n' Jill chips and cereals.


JG Summit, which has registered capital of US$3 billion, is one of the largest groups in the Philippines, covering eight core businesses including aviation and real estate.


(Shanghai Daily December 19, 2007)

Tools: Save | Print | E-mail | Most Read

Username   Password   Anonymous
China Archives
Related >>
Most Viewed >>
-China set to hit the brakes on rising yuan
-Power to resume shortly in worst-hit area by snow
-Online operators are on top of the game
-Macao's gaming market expands further
-Insurance firms set to stump up billions

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright © All Rights Reserved E-mail: Tel: 86-10-88828000 京ICP证 040089号