Nam Duong Sauce gets infusion from Wilmar International
(VOV) - Singapore-based agribusiness giant Wilmar International has agreed to invest US$13 million in a 49-51 deal with Vietnamese sauce maker Saigon Co.op to produce differing types of sauces and spices.
According to the announcement, Saigon Co.op will form a new subsidiary – Nam Duong International Food Co, Ltd – to construct and operate manufacturing facilities at the Hiep Phuoc Industrial Park in the Nha Be District of Ho Chi Minh City.
The Nam Duong brand has been well-known for its Tau Vi Yeu soya bean sauce, which first appeared in Vietnam in 1951.