Kikkoman to enter Beijing and Tianjin markets with a joint venture to produce and sell from northern China!
On July 25, 2008, Kikkoman announced its decision to establish a joint venture with Shijiazhuang Zhenji Brewing Group Co., Ltd. in Shijiazhuang City, Hebei Province, China. The company plans to establish the joint venture in October, starting operations and sales of seasonings in January 2009.
Shijiazhuang Zhenji Brewing Group Co. Ltd. is northern China's largest producer of soy sauce and vinegar and has been making the seasonings in Shijiazhuang City for over 50 years.
The demand for high quality varieties of seasonings such as soy sauce, is expected to grow in China's rapidly expanding economy. Kikkoman has been producing and selling soy sauce in the Shanghai market since 2002 at the KUNSHAN PRESIDENT KIKKOMAN BIOTECHNOLOGY CO., LTD., located in a Shanghai suburb. The new joint venture will allow Kikkoman to establish a base in northern China for full-scale entry into the Beijing and Tianjin markets.
This joint venture, with its full-scale entry into the Beijing market, is one part of Kikkoman's world-wide strategy, and Kikkoman will vigorously pursue business in Asia with China as a base.