New supply agreement in China
Hochdorf, 4th December 2012 – HOCHDORF Nutricare Ltd., part of the HOCHDORF Group, has signed a supply agreement with Beingmate Ltd. The number three in the Chinese baby care market plans to place medium-term orders amounting to around 2,000 tonnes of infant formula per year.
HOCHDORF Nutricare Ltd. is already working with several partners in China – not so unusual in this country, where approximately 17 million babies are being born each year. There are 48 million children in China between the ages of one and three, which is the market for infant formula and infant food. Negotiations with Beingmate Ltd. were concluded at the beginning of December. The HOCHDORF Group is expecting another huge boost in growth from this cooperation.
As the agreement was signed, Damian Henzi, CEO of the HOCHDORF Group, highlighted the pride felt by everyone at HOCHDORF at the prospect of working with the number three player in the Chinese baby care market. “We don’t take a partner of this stature for granted. We are honoured by the trust the Beingmate Group has placed in us, whilst at the same time recognising the challenge of constantly improving our work as BEST PARTNER,” explained Damian Henzi. The first products will be delivered as early as spring-time 2013. Michiel de Ruiter, Managing Director of HOCHDORF Nutricare Ltd., is delighted that another agreement has been signed: “We expect that the agreements concluded at the beginning of October and this agreement with Beingmate Ltd. will lead to a growth beyond average in the Chinese market in the coming years.”
About Beingmate Ltd.
Beingmate was founded by Xie Hong in 1992 and has its headquarters in Hangzhou. Beingmate has around 7,000 employees, with 2,000 Beingmate shops and approximately 79,000 sales points. It has been listed on the Shenzhen Stock Exchange since April 2011. The company has its own R&D department as well as five production sites for infant formula, infant cereals and baby supplement food & snacks. Beingmate sells its products all over China and achieved sales revenues of 4,727 billion RMB (around CHF 675 million) in 2011. Beingmate is one of the best-known companies in the area of infant formula/ baby care and is one of the top three baby-care brands in China.
Dr. Christoph Hug, Head of Corporate Communications, HOCHDORF Group, Tel: +41 (0)41 914 65 62 / +41 (0)79 859 19 23, firstname.lastname@example.org
The HOCHDORF Group, based in Hochdorf, achieved a consolidated gross sales revenue of CHF 346.6 million in 2011. It is one of the leading foodstuff companies in Switzerland,
employing 361 staff as of 31.12.11 (338 full-time staff). Made from natural ingredients such as milk and wheat germ, HOCHDORF products have been contributing to our health and
wellbeing since 1895 – from babies to senior citizens. Its customers include the food industry and retail sector and its products are sold in 80 countries. The shares are traded on the SIX Swiss Exchange (ISIN CH0024666528).