Chinese fruit juice giant taps into US market

(Xinhua)
Updated: 2007-03-09 21:32

BEIJING -- Chinese fruit juice giant Huiyuan Juice Group has secured a 100-million-yuan (about US$12.5 million) US deal, the largest for fruit juice processors in China.

Market analysts said the deal is a real success for Chinese fruit juice producers given the US market is generally regarded as difficult to reach and is known for its strict standards for fruit juice products.

According to the contract, Huiyuan is to provide fruit juice to more than 3,000 Wal-Mart outlets across the US over a year's period.

The company delivered the first batch of fruit juice under the deal on Thursday.

Huiyuan, covering 42 percent of China's domestic market, entered the US market in 2004 and saw its annual sales up 30 percent year on year to reach 20 million yuan last year.

The company raised 2.4 billion HK dollars from its Hong Kong initial public offering last month.



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