Uni-President Enterprises Corp (
"We can coordinate in securing supplies of raw materials," Selina Wu (吳旭慧), Uni-President's public relations director, said by telephone from Taipei yesterday.
``We may also cooperate on expanding in overseas market," Wu said.
Uni-President and Wei Lih have a combined 70 percent share of Taiwan's NT$9 billion-a-year instant noodle market, Wu said.
Uni-President has bought stakes in other companies and agreed to sponsor the Beijing 2008 Olympic Games, as it seeks to enter new markets and expand overseas.
Uni-President has sold the NT$642 million in Wei Lih debt it bought in 2005 to an asset management company, Wu said today, without elaborating.
The Wei Lih stake follows Uni-President's acquisition of 20 percent of Tait Market & Distribution Co (
Uni-President will be the sole supplier of instant noodles to competitors and staff at the 2008 Olympics, the games organizing committee said on Sept. 13.
It was the first Taiwanese company to be picked as a sponsor of the games. Financial terms weren't disclosed.
Shares of Uni-President was unchanged at NT$22.80 on the Taiwan Stock Exchange yesterday after gaining as much as 0.2 percent.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
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