Unilever sets out aggressive expansion

By Joyce Pan and Maggie Zhang | 00:00 UTC+8 June 16, 2009 |

Print Edition

UNILEVER said yesterday that its short and mid-term target for China business has not changed despite the economic downturn and it set out ambitious expansion plans for the next six years.

Unilever China expects sales to "double and double again" by 2015, said Alan Jope, chairman of Unilever greater China. Unilever has maintained a sales growth of over 20 percent for the past four years in China and chalked up sales of 10 billion yuan (US$1.47 billion) last year.

"We see a strong sign of economic recovery in China, driven by the government's effective stimulus measures to boost the vast consumer market," said Jope, who became chairman two months ago.

Unilever is considering developing a third-party manufacturing base in Sichuan Province to support growth in west China. It has penetrated China's rural areas with several third-party manufacturing bases on top of its own pair of factories.

Unilever is also interested in being listed on the Shanghai Stock Exchange, said a bourse official who refused to be named. It is likely Unilever's China assets will be listed in Shanghai, the source said. The Shanghai bourse, the largest stock exchange on Chinese mainland, is planning to launch an international board to enable overseas companies to sell shares.

The Shanghai Stock Exchange is the world's sixth-biggest exchange in terms of market capitalization.

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Unilever sets out aggressive expansion

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