Jan. 10 - Olam International Limited (the "Company") wishes to announce that the Company has incorporated a new subsidiary in Vietnam known as "Outspan Café Vietnam Limited" ("Outspan Café") with a charter capital of VND64,400,000,000 (equivalent to USD4,000,000).
The principal activities of Outspan Café are those of sourcing, processing and supply chain management of agricultural products and food ingredients.
The incorporation of Outspan Café is not expected to have any significant impact on the financial position of the Company for the current financial year.
None of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the above transaction.
About Olam International
Olam is a leading global integrated supply chain manager of agricultural products and food ingredients, sourcing 14 products with a direct presence in 56 countries and supplying them to over 4,000 customers in more than 60 destination markets. With direct sourcing and processing in most major producing countries for its various products and a staff strength of more than 7,500 worldwide, Olam has built a global leadership position in many of its businesses, including cocoa, coffee, cashew, sesame, rice, cotton and teak wood.
Headquartered in Singapore and listed on the SGX-ST on February 11, 2005, Olam currently ranks among the top 40 largest listed companies in Singapore in terms of market capitalisation and is now a component stock in the benchmark Straits Times Index (STI). It was recently named as one of Singapore’s top 10 globalised companies by International Enterprise (“IE”) Singapore in its third annual Singapore International 100 Ranking 2007.