BIZCHINA / Overseas Investment
Fridge supplier launches project
By Zhan Lisheng (China Daily)
Updated: 2007-02-06 10:10
GUANGZHOU: Greece-based Frigoglass Group, a leading supplier of drinks
refrigerators, has launched its first Chinese investment project in
Guangzhou.
Construction of the project, involving an investment of over 150 million
yuan at the initial stage, began in September 2006 and the facility is
set to become operational by November this year.
The facility will be able to produce over 120,000 units annually for the
domestic market as well as for other markets in Asia, Africa and Europe.
Dimitris Valachis
Instead of making general types of refrigerators for soft drinks and
beer, Frigoglass will provide so-called ice cold merchandisers (ICMs)
glass-door refrigerators with merchandising solutions to stimulate
consumers to buy soft drinks and beer.
"The market for ICMs is at an early stage in China," said Dimitris
Valachis, director of the group's China Operations, in an exclusive
interview.
"The rising disposable incomes, higher living standards of the Chinese
people, and the fast-growing retail business, especially the modern trade
and large-scale chain stores, all suggest that market growth will be
sustained in China."
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