PILMICO Foods Corp., the food arm of conglomerate Aboitiz Equity Ventures Inc. (AEV), has taken over its joint venture firm in Vietnam to strengthen its presence in the Vietnamese market as a part of the group’s strategy to expand in the Southeast Asian region.
In a disclosure to the Philippine Stock Exchange on Wednesday, AEV said Pilmico, through its subsidiary Pilmico International Pte. Ltd., has acquired 100 percent ownership in the partnership company Pilmico Viet Nam Trading Company Limited for 888 million Vietnamese Dong ($39,782 or P1.92 million).
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