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.