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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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Unilever Nv | LSE:UNV | London | Ordinary Share | NL0000388601 | NLG1.12 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS No 5825p UNILEVER PLC & NV 21st July 1998 UNILEVER ACQUIRES CULINARY BUSINESS IN CHINA Unilever China is establishing a culinary products business in China with the acquisition of the Shanghai Huanan Laocai Food Industrial Co. Ltd, the leading soy sauce producer in Shanghai, for an undisclosed sum. The assets of Huanan Laocai company have been purchased by a new enterprise, within Unilever China, which will be called Unilever Foods (Shanghai) Company Limited. The Huanan Laocai company is well known for its "Lao Cai" brand of soy sauce - the most widely distributed soy sauce brand in the Greater Shanghai region which has a population of 190 million. Lao Cai can be found in more than 80 per cent of supermarkets and major foods stores. The business had sales of $US 9.5 million in 1997 and currently employs approximately 280 people, on the factory site in Jinshan, 60km south west of Shanghai and in the Shanghai office. Culinary products are a priority category for Unilever worldwide and it sees this acquisition as a great opportunity within what is potentially the world's biggest culinary market. Although the business is small at present, the Lao Cai brand is very strong in Shanghai and gives Unilever a solid base from which to build. The Chinese consume over 2.5 million tons of soy sauce every year and the total culinary market in China is worth at least US$ 3 billion." The acquisition has been approved by the relevant authorities. Mr Cai, the founder of the business has agreed to work with Unilever for an interim period to ensure a smooth handover. END ACQSELSUFUAUFDW
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