Tribeco to invest in new factory

Saturday, April 19, 2008
The Ho Chi Minh City Stock Exchange-listed beverage producer Tribeco announced on April 18 the initiation of a new factory with an investment of 80 billion VND (5 million USD) going into operation this quarter.
General director Phan Minh Co said at the annual shareholder meeting in HCM City that the 3 ha plant in Hung Yen province will serve northern and central provinces .
With a beverage factory in Binh Duong province already in production since last September, the company added an additional one last month.
Tribeco targets this year’s turnover at 660 billion VND, up from 2007’s figure of 398 billion VND.
The turnover is expected to yield a net profit of 21 billion VND.
Like last year, shareholders may receive 15 percent dividends this year.
Tribeco is also preparing for two real estate projects likely to kick off construction before year’s end. The proposed 20-storey apartment building and office high-rise are both in the city’s District 3.