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VinaCapital invests 15 million USD in tile giant

VinaCapital has announced that it will invested 15 million USD in the Prime Group, the largest floor and tile maker in Vietnam , at a press briefing in Hanoi on April 28.
VinaCapital has announced that it will invested 15 million USD in the PrimeGroup, the largest floor and tile maker in Vietnam , at a press briefing inHanoi on April 28.

VinaCapital’s Executive Manager Andy Ho said thatPrime Group’s key products and construction materials met his group’s investmenttargets, which also include real estate, healthcare and consumer goods.

Prime Group’s Vice President Nguyen Van Nghia said that the sum wastransferred to Prime Group in late March and accounts for over seven percent ofthe group’s stake worth of almost 1.02 trillion VND (roughly 54.46 million USD).

Prime Group owns eight factories, a national distribution network andhas over 30 percent of the market share.

The group plans to put anotherfactory into operation by 2011 to increase its tile output by 20 percent andrecord an annual growth of over 25 percent in the next three years./.
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