Heinz to enter joint venture in Indonesia: deal with ABC Group gives positive signal to troubled economy

Article Abstract:

H.J. Heinz Co. has formed a joint venture with Indonesian food giant ABC Group to create Heinz ABC Indonesia. The investment, estimated at around $150 million, reflects the newfound confidence of large multinationals in Indonesia. While the country has been badly hit by the currency crisis and is plagued by political uncertainty, Indonesia remains an attractive market for foreign companies since it has a large consumer base. Heinz's joint venture is to be headed by Kogan Mandala, a member of one of the families that control the ABC Group.

Strategy & planning, FOOD AND KINDRED PRODUCTS, Mayonnaise, Dressing, and Other Prepared Sauce Manufacturing, Sauces & Prepared Mustard, Pickles, sauces, and salad dressings, Condiments NEC, Seasoning and Dressing Manufacturing, Food industry, Joint ventures, Indonesia, Condiments, H.J. Heinz Co., HNZ, ABC Group

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Singapore spells opportunity for bookseller

Article Abstract:

Tokyo, Japan-based Kinokuniya Books' will open a megastore in Singapore. The 40,000-sq-ft book store is scheduled to open in Aug 1999 at the Takashima Shopping Center. Japan's second largest bookseller intends to compete with US-based Borders Books and Music's 31,000-sq-ft store in Singapore that has been very successful since it opened in 1997. The move by Kinokuniya dispels speculations that Japanese firms have left Singapore due to the Asian financial crisis.

Book Stores, Foreign operations, Retail trade, Singapore, Booksellers, Bookstores, Kinokuniya Books'

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Shrugging off recession: Merck says Asia crisis hurt sales slightly

Article Abstract:

The chairman of Merck & Co., Raymond V. Gilmartin, said that the pharmaceutical company is generally not being affected by the Asian economic turmoil. The crisis has had only a marginal impact on Merck's sales. Mr. Gilmartin said that he was not worried about the potential for a worldwide recession that could hurt the company. Mr. Gilmartin, who is also Merck's president and CEO, said that the company has high staying power.

Comment:

Chairman Raymond V. Gilmartin says company is generally not being affected by the Asian economic crisis

Drugs & Pharmaceuticals, Pharmaceutical and Medicine Manufacturing, Marketing procedures, Drugs, Merck & Company Inc., Article

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