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Taiwan Salt Ind. to Set Up 1st Franchisee in Kunshan of China

2009/12/03 | By Ben Shen

Taipei, Dec. 3, 2009 (CENS)--Taiwan Salt Industrial Corporation (TaiYen), Taiwan's state-run maker of salt and related products, will set up its first franchised store in Kunshan, Jiangsu province sometime in spring 2010 to tap markets in Jiangsu and Fujian provinces.

Also TaiYen will also set up a wholly owned retailer in Xiamen, Fujian province to distribute its major lines as facial masks, food-cleansing detergents by the end of 2010.

TaiYen posted a 6.33% year-on-year decline in cumulative sales in the first three quarters of this year, offset by growing sales since the beginning of the fourth quarter. The company noted its October sales grew 13.4% annually to reach NT$180 million (about US$5.59 million).

H.Y. Hung, chairman of TaiYen, said his company will see growing sales in the fourth quarter of this year from the preceding quarter driven by the increased sales from the core business and biotechnology products.

TaiYen posted NT$210 million (US$6.52 million) in after-tax earnings, or NT$0.72 (US$0.022) per share, in the first three quarters of this year. To boost domestic sales, the company just opened five franchised stores: one each in Taoyuan County, Hsinchu City, Tainan City, and two in Kaohsiung City.

TaiYen has 131 franchised stores island-wide, which will be raised to 200 by the end of 2010.