October 5, 2007

Glitnir Bank lends seafood expertise to Chinese food caterer 

Glitnir, the Nordic bank, and the Chinese catering company Fu Ji today announced their conclusion of a strategic consulting agreement.

Under the agreement, Glitnir will act as financial and strategic consultant for Fu Ji, as the company expands its business in China.

Glitnir will draw upon its expertise in the international seafood industry, working through the Bank's representative office in Shanghai.

The signing took place at a reception in Shanghai hosted by the Iceland Business Forum in China.

The agreement will ensure Fu Ji the necessary consulting resources for strategic growth in the Chinese market.

The company, which is listed on the Hong Kong stock exchange, with a market Cap of just over US$2 billion, is already the largest domestic catering service provider in Shanghai, serving more than one million meals every day, possibly the largest provider of chilled ready meals in China.

Wei Dong, Chairman of Fu Ji Catering calls the agreement an important milestone for Fu Ji, saying that Glitnir is a key partner in the company's growth strategy.

He further added that Glitnir has an excellent network and possesses expertise within the food industry. Fu Ji intends to take advantage of that expertise, he added.