Confectionary maker Orion's Vietnam unit records $314 mln sales in 11 months
Orion Food Vina Company posted 406.7 billion won ($313.8 million) in sales in the first 11 months of the year, up 38% year-on-year and a record high since its establishment in 2005.
South Korean confectionary maker Orion Corp. on Thursday added that potato snacks, pies, rice snacks, convenient meal replacements, and jelly products were the main sellers of its Vietnam subsidiary, according to South Korea's Yonhap News Agency.
Orion's Choco pies. Photo courtesy of the company.
The company plans to add new production facilities at its two factories, located in Hanoi and Ho Chi Minh City, while mulling plans to build another factory in the Southeast Asian country.
Orion is a South Korean confectionary maker founded in 1956. Its flagship product is the Orion Choco Pie, a chocolate-covered biscuit sandwich with a marshmallow filling.
Orion Food Vina started operations in 2006, specializing in high-class confectionery, mainly Choco Pie and Custas cakes.
This is the company's sixth overseas factory with an investment capital of $40 million.
Regarding product lines, the pie line is the market leader and brings in the most revenue for Orion, accounting for 57% of the market share in Vietnam, followed by snacks at 14% and biscuits at 12%.
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