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VHC plans to produce collagen
At the end of November 2011, Vinh Hoan Corp (HOSE: VHC) has started its project on building collagen pilot production facility in Thanh Binh district, Dong Thap province with a total investment of VND200 billion.
This is a careful intermediate step of the company to launch trial products in the market and improve technology for a large scale factory. A factory of 1,000 tons of final product per year would be constructed middle of 2012.
Administration Council of Vinh Hoan Corp decided to establish Vinh Hoan Collagen 5 Joint Stock Company, located in Cao Lanh City, Dong Thap province.
The new company has VND80 billion of charter capital, in which Vinh Hoan Corp hold 85 percent, equal to VND68 billion. Vinh Hoan Collagen 5 will operate in extracting and producing gelatin, hydrolyzing collagen, producing chemical pharmaceutical products, cosmetics amd functional foods.
After pilot period, its collagen products will be traded in local and international markets.
In 2011, Vinh Hoan Corp estimated to reach at least VND300 billion of consolidated post-tax profit. Its profit in first nine months of the year was up 15 percent from the target of VND250 billion set in 2011.
Until the end of October, Vinh Hoan Corp totaled US$122.3 million of pangasius export revenue, becoming the leading pangasius exporter and the 2nd seafood exporter in Vietnam after Minh Phu Seafood Corp. Vinh Hoan’s seafood products are exported mainly to the U.S. market.
Dinh Ha
vasep
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