August 31, 2012
Vietnam's AGF sets up company in US worth US$700,000
An Giang Fisheries Import Export JSC (AGF) or Agifish has invested US$743,589 in setting up a wholly-owned company in the US.
The new firm named M&T Seafood Corp. will distribute, export and import, and promote Agifish's seafood products, foodstuffs and other goods in the American market, the listed company said on its website.
The unit located at 224 Cheris Drive, San Jose City of California, will have an operational lifespan of 20 years.
AGF targets a pre-tax profit of VND85 billion (US$4.1 million) on revenues of VND2.4 trillion (US$115 million) this year, up 10.1% and down 13% on year, respectively.
