Fimex VN: Strive to reach at least US$80 million of sales

Saota Foods Joint Stock Company (Fimex VN) has announced it business results in 2010. It was so positive with the sales of approximately US% 74 million. The profit of VND 25 billion, up 40% and 60% respectively compared to 2009.

Fimex VN said 2011 is promised to be a year of shrimp farming outbreak on the global scale. Accordingly, the price of shrimp will decrease under the law of supply and demand.

At the same time, there will be business scenarios under the changing situation of shrimp season. However, in general, shrimp production will increase over 2010.

Thus, during this year, the company has installed more freezing equipment to improve its processing yield with the estimated investment cost at VND10 billion since late 2010 and will be completed before the 2011 shrimp season.

In 2011, Fimex VN strives to reach at least US$80 million of sales and about VND30 billion of profit.

This year, many food distribution systems of Japan are likely to transfer seafood processing from China to Vietnam. Therefore, in the future, Fimex VN plans to build its processing facility to get the coming business opportunities.



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