ID :
212109
Tue, 10/11/2011 - 06:18
Auther :
Shortlink :
https://oananews.org//node/212109
The shortlink copeid
S. Korea's Orion expects sales jump in China
By Kim Young-gyo
HONG KONG (Yonhap) - Orion Corp., South Korea's second-largest confectionery company, expects to see its China sales jump this year, driven by rising income levels in the world's most populous country, company officials said Tuesday.
Pan Orion Corp., the Chinese subsidiary of Orion, forecast that its sales will reach 643 billion won (US$55 million) this year, up 22.5 percent from 524.7 billion won in 2010.
The company's strong performance in China stems partly from the robust growth of China's confectionery market, which is estimated to have reached $6.53 billion last year.
Market watchers expect total confectionery sales in the world's No. 2 economy will grow 9.4 percent annually to reach $11.2 billion in 2015.
The South Korean firm plans to expand its production facilities in China in a bid to achieve sales of more than 1.35 trillion won there by 2015, averaging an annual 20.5 percent growth.
Pies make up about 35 percent, the largest portion, of the company's total sales in China, with strong sales of its hallmark "Choco Pie," which is called "Haoliyou" in the Chinese market.
Meanwhile, Orion is known to be considering selling shares of its Chinese unit in an initial public offering in Hong Kong in 2011 or 2012.
HONG KONG (Yonhap) - Orion Corp., South Korea's second-largest confectionery company, expects to see its China sales jump this year, driven by rising income levels in the world's most populous country, company officials said Tuesday.
Pan Orion Corp., the Chinese subsidiary of Orion, forecast that its sales will reach 643 billion won (US$55 million) this year, up 22.5 percent from 524.7 billion won in 2010.
The company's strong performance in China stems partly from the robust growth of China's confectionery market, which is estimated to have reached $6.53 billion last year.
Market watchers expect total confectionery sales in the world's No. 2 economy will grow 9.4 percent annually to reach $11.2 billion in 2015.
The South Korean firm plans to expand its production facilities in China in a bid to achieve sales of more than 1.35 trillion won there by 2015, averaging an annual 20.5 percent growth.
Pies make up about 35 percent, the largest portion, of the company's total sales in China, with strong sales of its hallmark "Choco Pie," which is called "Haoliyou" in the Chinese market.
Meanwhile, Orion is known to be considering selling shares of its Chinese unit in an initial public offering in Hong Kong in 2011 or 2012.
