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| Water purification machine of Kangaroo. South Korean companies has invested US$45 million in the Vietnamese corporation. — Photo kangaroo |
HA NOI (Biz Hub) — Viet Nam's Kangaroo corporation has received a US$45 million investment from South Korean partners following a strategic co-operative agreement.
Kangaroo general director Nguyen Thanh Phuong said: "Realising commercial potentials, Kangaroo signed the contract with four South Korean home-furnishing retailers on technology transfer and production delivery."
According to the commitment, Kangaroo will use the investment to focus on equipping a modern production chain. The products will meet international standards, including ISO (International Organisation for Standardization) and EC marking for products in the European Economic Area.
Kangaroo, which appeared in Viet Nam 10 years ago, produces water treatment equipment and home furnishings. The cooperation with South Korean companies is part of a plan to become the top corporation in its field in Southeast Asia by 2016. — VNS