Sweden-based Packaging Giant to Raise Investment in China

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Last updated at: (Beijing Time) Saturday, February 22, 2003

Sweden-based Packaging Giant to Raise Investment in China

Tetra Pak International SA, a global food packaging giant, will pump up an additional 100 million US dollars of investment into China in a bid to raise its market share in the next 12 months.

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Tetra Pak International SA, a global food packaging giant, will pump up an additional 100 million US dollars of investment into China in a bid to raise its market share in the next 12 months.

The promise was given by Nicholas Shreiber, president and chief executive officer of the multinational, at a function organized to mark the completion of a new warehouse of Tetra Pak (Kunshan) Co. Ltd., in Jiangsu Province, and the launch of the company's third phase investment project.

In recent years, the macro-economic environment in China had kept improving, and the consumption capacity of ordinary people had risen enormously, leading to a boom in the dairy and beverage industries, said Shreiber, who added the encouraging prospects had further enhanced his company's interest and confidence in investing in China.

Tetra Pak International SA entered the Chinese market 23 years ago. It has one solely funded venture in Kunshan City, Jiangsu Province, and three other joint ventures in Beijing and Foshan, Guangdong Province.

It also has business offices in nine Chinese cities and has built a marketing network covering the whole of China. The multinational moved its China headquarters from Hong Kong to Shanghai in 2000.

By late 2004, Tetra Pak International SA's investment in China will exceed 200 million US dollars.

Shreiber said Tetra Pak International SA recorded nearly five billion yuan (602 million US dollars) in sales revenue last year, accounting for eight percent of its global sales.

China's dairy industry generated a combined output value of 29.2 billion yuan (3.52 billion US dollars) last year, up 49 percent from 2001.

Industry experts predict that in the next five years, consumption of dairy products in China will rise dramatically, with milk increasing by 15 percent annually.

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