Del Monte unit enters joint venture with Vinamilk

DEL MONTE Pacific on Monday said that Del Monte Philippines (DMPI) has entered into a joint venture with Vietnam Dairy Products (Vinamilk) to expand into the dairy sector.

The joint venture will import dairy products from Vinamilk, and market and distribute them in the Philippines through DMPI. Both companies will contribute 50 per cent of the total investment capital.

Shares on Del Monte closed at S$0.35 on Monday, down 0.5 Singapore cent or 1.4 per cent.