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Food Empire Purchases Additional Facility In Jurong
Additional space for increase in production capacity of instant beverages
SINGAPORE - 12 December 2000 - Mainboard-listed Food Empire Holdings, through its subsidiary FES Industries Pte Ltd, announced today its purchase of a 22,327 square feet (2,074 square meters) facility at a purchase consideration of $350,000.
Located in Jurong, this new facility is adjacent to its present factory, which produces instant beverages for export markets.
Sitting on JTC lease-hold land of approximately 53,098 square feet (4,933 square meters), this new facility will provide additional spacce for an increase in production capacity at its existing factory next door.
The Group's existing factory in Singapore, which has a built-up area of 13,910 square feet (1,292.3 square meters) produces annually 306 million sachets of instant beverages such as ready-mixed black coffee, coffee with sugar/creamer and cappuccino; as well as instant chocolate, cereals, and tea-based products. Its current utilization rate is 90 per cent.
The additional space next to the existing factory can, therefore, facilitate an increase in production capacity by at least another 40 per cent in the year 2001.
Said Mr Tan Wang Cheow, Managing Director of Food Empire Holdings: "The additional facility will also enable us to double our warehousing space, and reduce our overheads on third-party warehousing. As it is just next to our existing factory, there will also be considerable savings in transportation expenses."
The Group has taken over the space on 30 November 2000 and expects to begin operations by January 2001.
About Food Empire
Food Empire Holdings Limited, listed on the main board of the Singapore Exchange, is a leading food and beverage company that manufactures and markets more than 40 instant beverage products under the brands Klassno, Temasek Royal, MacCoffee, Express, FesAroma and Caf? Veneto. Its products are mainly exported to more than 30 countries in emerging markets such as Russia, Eastern Europe, Central Asia and Indochina.
