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Uni-President injects 240m yuan in Sanshui Jianlibao

By Tu Lei (chinadaily.com.cn)
Updated: 2008-12-18 15:38

Uni-President China Holdings Ltd, the mainland unit of Taiwan's biggest maker of processed food, Wednesday said it has injected 240 million yuan ($35.04 million) into its subsidiary Sanshui Jianlibao Trading Co.

The cash is injected via another subsidiary, Cayman President Holdings Ltd, which holds 69.77 percent of Sanshui Jianlibao's stocks, the company said in a statement.

Sanshui Jianlibao, based in Foshan, Guangdong province, only distributes Jianlibao drinks in the domestic market.

"Sanshui Jianlibao will start to produce carbonated drinks in China after the cash injection," Wu Xuhui, from Uni-President's public affairs department, was quoted as saying by National Business Daily.

Yang Yunfan, an analyst from Aijian Securities Co Ltd, a securities brokerage company, said the reason behind the cash injection is the booming carbonated drinks market of China.

Uni-President last week acquired 10.58 percent of the shares in Andre Juice worth 150 million yuan. Andre Juice, based in Yantai, Shandong province, is one of the largest apple and pear juice concentrate manufacturers in China.

Uni-President said it would continue to strengthen and develop its food and beverages business through making investments in other mainland food and beverage companies either on its own or with other partners.