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Orion to invest US$107 mln in China this year

Published: 11 Mar 2009 21:44:30 PST

Mar. 12, 2009 (China Knowledge) - Orion Corp, a South Korean-based company specializes in the areas of food, entertainment and sports, plans to invest a total of US$107 million in China this year, according to Zhang Xiaoyan, PR manager of Orion's subsidiary in China, sources reported.

Zhang said Orion will spend 60% of the total investment to set up a plant in Guangdong Province, in a bid to further expand its network in the potential market. The remaining funds will be used to add new production lines to the existing plants.

Orion realized RMB 1.8 billion in sales revenue last year in China and it hopes to raise the figure to more than RMB 2.5 billion in 2009.

Orion established its first company in China in 1995 and mainly sells pie, chewing gum, biscuits and other snacks in the country.

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