International Dispensing Corporation Issues Update
July 09 2012 - 11:15AM
Business Wire
International Dispensing Corporation (IDC) (IDND.PK) issued
today a status update on its business with PepsiCo.
On November 18, 2011, IDC and PepsiCo announced a global supply
agreement for The Answer® tap. The Company expected a product
rollout in China in Q1 2012. Almost concurrently with the IDC
announcement, PepsiCo China announced that it had entered into a
joint venture with Tingyi, the largest tea producer in China with
annual revenues of $16.6 billion. The joint venture, involving
considerable shifting of assets and employees, first required the
approval of the Chinese Government, which was granted on April 1,
2012. Since then, Tingyi and PepsiCo China have been immersed in a
complex integration process to ensure continuity of their existing
businesses. The combined entity of Pepsi/Tingyi is expected to
represent approximately 20% of the Chinese beverage market, and
result in greater distribution and production capacity of PepsiCo
products. Due to the above logistics, PepsiCo China’s new
innovative projects have experienced delays.
Although there can be no assurance, based on recent
communications IDC believes that PepsiCo China is ready once again
to focus on innovation, and that The Answer® remains a very
important foodservice platform for PepsiCo China. As more
information becomes available, IDC will report important
developments.
About International Dispensing Corporation
IDC is a research and development company based in New York City
that develops and manufactures game-changing, eco-friendly
dispensing solutions for the flexible packaging and
food-and-beverage industries. Along with its visionary dispensing
innovations, IDC provides its customers with invaluable supply
chain assistance and expertise.
International Dispensing (PK) (USOTC:IDND)
Historical Stock Chart
From May 2024 to Jun 2024
International Dispensing (PK) (USOTC:IDND)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about International Dispensing Corporation (PK) (OTCMarkets): 0 recent articles
More International Dispensing Corporation (IDC) News Articles