Taiwan FamilyMart Co (全家便利商店), one of the nation’s largest convenience store operators, said yesterday it had decided to continue to expand, using no less than NT$1.5 billion (US$49.3 million) in capital expenditure for next year.
This year, FamilyMart assigned about NT$1.5 billion in capital expenditure to boost its total number of outlets by about 300 to 2,800 by the end of the year.
FamilyMart chairman Pan Chin-ting (潘進丁) said the local economy had been affected by the escalating debt crisis in Europe.
However, Pan added that his company was not deterred at all by the current sluggishness in economic fundamentals and was determined to continue to expand next year.
Pan said he believed convenience store sales would continue to grow, because the business has become a pillar of the local retail sector with consumption remaining consistent.
He added that future investment would focus on establishing a logistics center that is scheduled for inauguration in the first half of next year, while the company would continue to add new outlets all over the nation.
According to FamilyMart, the company will open more large stores, each with an area of between 30 ping (99m2) and 35 ping, to provide venues in which people can socialize, and the outlets will provide more fresh food.
Currently, the convenience store chain operates more than 500 of the larger outlets across the country.
The company is finalizing its expansion plan for next year and deciding how many new stores will be added, it said.
Meanwhile, Pan said the FamilyMart chain in Taiwan would transform itself into a health food supplier and put more emphasis on environmental protection.
Pan said his company would continue to promote roasted sweet potato, which has become popular among local consumers and is expected to generate NT$200 million in sales for FamilyMart this year.
UNPRECEDENTED PACE: Micron Technology has announced plans to expand manufacturing capabilities with the acquisition of a new chip plant in Miaoli Micron Technology Inc unveiled a newly acquired chip plant in Miaoli County yesterday, as the company expands capacity to meet growing demand for advanced DRAM chips, including high-bandwidth memory chips amid the artificial intelligence boom. The plant in Miaoli County’s Tongluo Township (銅鑼), which Micron acquired from Powerchip Semiconductor Manufacturing Corp (力積電) for US$1.8 billion, is expected to make a sizeable capacity contribution to the company from fiscal 2028, the company said in a statement. It would be an extended production site of Micron’s large-scale manufacturing hub in Taichung, the company said. As the global semiconductor industry is racing to reach US$1 trillion
ABOVE LEGAL REQUIREMENT: The Ministry of Economic Affairs is prepared if LNG supply is disrupted, with more than the legal requirement of 11 days of inventory Taiwan has largely secured liquefied natural gas (LNG) supplies through May and arranged about half of June’s supply, Minister of Economic Affairs Kung Ming-hsin (龔明鑫) said yesterday. Since the Middle East conflict began on Feb. 28, Taiwan’s LNG inventories have remained more than 12 days, exceeding the legal requirement of 11 days, indicating no major supply concerns for domestic gas and electricity, Kung said at a meeting of the legislature’s Economics Committee in Taipei. The ministry aims to increase the figure to 14 days by the end of next year, he said. While one or two LNG or crude oil shipments for May
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan’s food delivery market could undergo a major shift if Singapore-based Grab Holdings Ltd completes its planned acquisition of Delivery Hero SE’s Foodpanda business in Taiwan, industry experts said. Grab on Monday last week announced it would acquire Foodpanda’s Taiwan operations for US$600 million. The deal is expected to be finalized in the second half of this year, with Grab aiming to complete user migration to its platform by the first half of next year. A duopoly between Uber Eats and Foodpanda dominates Taiwan’s delivery market, a structure that has remained intact since the Fair Trade Commission (FTC) blocked Uber Technologies Inc’s
RSS