Food Revolution Group Limited (ASX:FOD), an Australian trader of fruit, vegetables, beverages, and processed foods, announced plans on Thursday for the upgrade of their food processing factory in Mill Park, Victoria. The goal of this plan is to both increase production volume and product varieties to better satisfy growing market demand from Chinese consumers.
Prior to this announcement, FOD signed an important retail agreement with Sinopec, the world's largest company in the petroleum and natural gas industry. The agreement includes plans for retailing of "Australian Garden" rapeseed oil through more than 35 thousand gas station convenience stores.
At the same time, Food Revolution reached another retail agreement with global distributor JJ Global Fine Foods to sell FOD's "Fruit Farm" orange juice through high-end chain restaurants in mainland China.
As Chinese consumers show more interest in FOD products and their brands grow stronger on a daily basis, FOD hopes to sign more retail agreements.
Source: acbnewsonline.com.au