Supor plans plant in Vietnam

SHANGHAI: China's Zhejiang Supor Cookware Co Ltd, controlled by French household appliance maker SEB, yesterday said it would spend 1 billion yuan to build its first overseas factory in Vietnam next year.

The planned facilities will help Supor to avoid export duties and boost sales in the 10 countries of the ASEAN, a market that equals half of China's population of 1.3 billion, investor relations official Liao Lihua said.

Board Secretary Ye Jide said yesterday that Supor's profit would jump 80 percent this year with sales rising 40 percent, in line with the company's forecast in its third-quarter report.