Robina builds RI food factory

Robina builds RI food factory

MANILA (AFX-ASIA): Universal Robina Corp is to build factories
in China and Indonesia for its branded consumer goods, the
company's executive vice president and director Lance Gokongwei
said.

He said the two factories will produce confectionery products
and will be completed by the end of the year.

"We are going to be the first Asian food company to be the
regional brand, including China," said company president James Go
after Universal Robina's annual shareholders' meeting.

The officials did not say how much the facilities will cost.

Go said he is optimistic of the firm's profit prospects this
year but did not elaborate. Universal Robina's first half to
March net profit stood at 750. 5 million pesos versus the year-
ago 567.3 million.

Universal Robina was untraded after last closing at 4.50
pesos.