Fridge supplier launches project
By Zhan Lisheng (China Daily)Updated: 2007-02-06 10:10
GUANGZHOU: Greece-based Frigoglass Group, a leading supplier of drinks refrigerators, has launched its first Chinese investment project in Guangzhou.
Construction of the project, involving an investment of over 150 million yuan at the initial stage, began in September 2006 and the facility is set to become operational by November this year.
The facility will be able to produce over 120,000 units annually for the domestic market as well as for other markets in Asia, Africa and Europe.
Dimitris Valachis
Instead of making general types of refrigerators for soft drinks and beer, Frigoglass will provide so-called ice cold merchandisers (ICMs) glass-door refrigerators with merchandising solutions to stimulate consumers to buy soft drinks and beer.
"The market for ICMs is at an early stage in China," said Dimitris Valachis, director of the group's China Operations, in an exclusive interview.
"The rising disposable incomes, higher living standards of the Chinese
people, and the fast-growing retail business, especially the modern trade and large-scale
chain stores, all suggest that market growth will be sustained
in China."
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