Unilever and Europe & Asia Commercial Company (EAC) have set up a joint venture in Myanmar in a bid to grow operations in the Southeast Asian country, according to a report published by Manufacturing Global.
The new entity will be known as Unilever EAC Myanmar Company Limited and will manufacture, market and distribute home and personal care products in Myanmar with a view to benefiting both companies, growing sales and market share.
“In line with Unilever’s leadership in other South East Asian markets like Indonesia, Thailand, Vietnam, Philippines, we see this JV as a critical milestone to further our growth vision in Myanmar. EAC has a strong heritage in Myanmar and we share a complementary product portfolio. Our partnership will allow us to scale up our Home Care & Personal Care businesses and enhance the lives of consumers in Myanmar with better health, hygiene and nutrition,” said Pier Luigi Sigismondi, President Unilever South East Asia Australasia.
“We are excited about the synergies that both businesses can leverage. Unilever’s global expertise in R&D, supply chain and marketing, combined with our local manufacturing and distribution capabilities, makes this partnership attractive for us and strengthens our contribution to Myanmar,” added U Sein Myint, Chairman of EAC.