Amway on US$335m expansion drive
Amway, one of the world's largest direct selling businesses, plans to invest more than US$$335 million (US$1=RM3.10) in
manufacturing and research and development (R&D) expansion this year.
The investment includes four facilities in the United States, a new manufacturing facility in India, and second sites in both China and Vietnam.
"We see even more potential for growth in 2013. We continue to invest in our supply chain, manufacturing, and scientific resources to be more responsive to market demands," Chairman Steve Van Andel said in a statement today.
He said the company had almost doubled in size since it launched the "Growth Through Innovation" business strategy six years ago.
"Our business is now much more aligned globally, with strong, seasoned leadership in each of our four regions," he added.
Last year, Amway parent Corp, Alticor Inc, reported record global sales of US$$11.3 billion compared to 10.9 billion in 2011.
Its Malaysian subsidiary, Amway (Malaysia) Holdings Bhd, which was among the top 10 markets for Amway, posted a RM137 million pre-tax profit last year, a 13.3 per cent increase from RM121 million previously.
Revenue rose to RM797.5 million from RM735.8 million previously.-- Bernama