Bakery machinery firm renews distributorship

Bakery equipment maker Sinmag Group of Taiwan, one of the biggest in the region, is planning to expand its presence in the Philippines from distributor to putting up a manufacturing facility in the country.

Sinmag president Charles Lue has indicated his group’s interests in the possibility of investing in a local manufacturing facility in the future but did not disclose a timetable.

Lue recently signed a contract renewing its exclusive Philippine distributorship agreement with Sinmag Bakery Machine Corp. ( Philippines) during the “Pandesal Forum” in Quezon City, held at the Kamuning Bakery Cafe in Quezon City. The signatories were Lue and Sinmag Philippines president Tony Fabico, with Kamuning Bakery Café owner Wilson Lee Flores as witness.

Sinmag Group is touted to be one of the largest manufacturers of full- range bakery equipments in the world and is a publicly- listed company in the Taipei Stock Exchange of Taiwan.

During the forum, Lue said his group is now studying additional investments in the country and that he is “confident about the good economic growth prospects ( of the Philippines).”

Fabico likewise expressed his optimsm on domestic growth particularly in the food sector. He said his company is now focusing on implementing newer technology to provide better service to its local customers which includes Kamuning Bakery Café.

According to a company statement, the Sinmag Group which is headquartered in Taiwan, operates five other companies located in China, the US, Malaysia and Thailand. ( LCC)