ALLIANCE SELECT Foods International, Inc. will be partnering with a Japanese firm for a new product line facility within its plant in General Santos City.
The listed international seafood firm said in a statement released on Thursday that it is finalizing a business tie-up with Kawasho Foods Corp., with the signing of a partnership agreement set for the third quarter of this year.
The facility will enable the company to distribute its seafood products in accessible pouches.
“This new product line is very cost effective, and can easily showcase the high quality of our seafood while also delivering more value for our customers,” Alliance Select President Raymond KH See was quoted as saying in a statement.
The partnership is part of Alliance Select’s effort to widen its customer base in Japan, in order to strengthen its market share and presence in the East Asian market.
Established in 2004, the Tokyo-based Kawasho operates as a consumer goods company with distribution channels in Japan, particularly in department stores, supermarkets, and convenience stores.
This year, Alliance Select has allotted P30 million to help expand its product line and improve its logistics capabilities.
The company generated P90,925 in attributable net income in the first three months of 2017, lower than its net income of P513,000 in the same period a year ago.
Shares in Alliance Select were unchanged on Thursday at 84 centavos each. — Arra B. Francia
