The corp said it will receive small orders first to assess the market demand and improve production technologies before establishing an entire Collagen plant with a total capacity of 1,000MT/year at mid 2012.
Just two days after the inauguration ceremony of the workshop, the executive board of Vinh Hoan Corp decided to establish Vinh Hoan Collagen 5 JSC with the registered capital of VND80 billion, 85% of which belonged to the Corp. The new company will specialize in gelatin extraction, hydrolyzed Collagen production, pharmachemicals, cosmetics, functional food, etc.
Ms. Truong Thi Le Khanh – Chairwoman of Vinh Hoan Corp – was appointed the representative of the corp’s 6.8 million shares in the new Collagen company.
When Collagen is successfully produced under this VND200 billion project, the product will be sold in both domestic and foreign markets.
In 2011, Vinh Hoan expects to earn VND300 billion in after-tax profit. In the first nine months of the year, its profit already exceeded the year’s target of VND250 billion by 15%.
By the end of October, Vinh Hoan Corp shipped US$122.3 million of Pangasius, becoming the country’s largest Pangasius exporter and the second biggest seafood exporter, just after Minh Phu Seafood Corp. Currently, the US remained its most important market.
Vasep