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Unilever and EAC announce Joint Venture in Myanmar

Joint Venture to strengthen portfolio, build scale and accelerate growth

Buses Moving On Road In Front Of Sule Pagoda Against Sky

4 May 2017 (Singapore/ London): As part of its long-term commitment to South East Asia and Myanmar, Unilever today announced a joint venture with Europe & Asia Commercial Company (EAC) Ltd to build on its current operations in the country.

Unilever Myanmar and Europe & Asia Commercial Company (EAC) Ltd will combine their respective Personal Care & Home Care businesses, forming Unilever EAC Myanmar Company Limited. The joint entity, with annual sales in excess of €100 Million, will manufacture, market and distribute Home & Personal Care products in Myanmar.

The companies will mutually benefit from a complementary portfolio, greater rural penetration and economies of scale. The joint venture will also create growth opportunities for Myanmar and its people through R&D, manufacturing investment, market development and nurturing local talent.

“We are excited about the synergies that both businesses can leverage. Unilever’s global expertise in R&D, supply chain and marketing, combined with our local manufacturing and distribution capabilities, makes this partnership attractive for us and strengthens our contribution to Myanmar,” said U Sein Myint, Chairman of EAC.

“In line with Unilever’s leadership in other South East Asian markets like Indonesia, Thailand, Vietnam, Philippines, we see this JV as a critical milestone to further our growth vision in Myanmar. EAC has a strong heritage in Myanmar and we share a complementary product portfolio. Our partnership will allow us to scale up our Home Care & Personal Care businesses and enhance the lives of consumers in Myanmar with better health, hygiene and nutrition,” said Pier Luigi Sigismondi, President Unilever SEAA (South East Asia Australasia).

Both Companies are committed to improving their environmental footprint and improving lives of communities in Myanmar. EAC has introduced the Corporate Social Responsibility Foundation Programme that has built primary schools and ground water wells for villages, donated emergency ambulances and products during natural disasters. Unilever is spearheading initiatives on waste management, supporting farmers on sustainable palm sugar sourcing and, through its brands like Lifebuoy and Signal, is providing education to children on hygiene and oral care.

Media Contacts

Shweta Shukla - Unilever South East Asia & Australasia

About EAC

EAC manufactures and distributes detergent products in Myanmar and along with another sister company E-LAN Company Ltd manufactures and distributes other Home Care (soap, shampoo and dish wash products) and some Personal Care products. EAC has introduced the Corporate Social Responsibility Foundation Programme since 2013 thereby allowing to construct 20 primary schools for villages, donation of 9 emergency ambulances and many other such CSR activities. For more information: (Opens in a new window)

Safe Harbour

This announcement may contain forward-looking statements, including ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as ‘will’, ‘aim’, ‘expects’, ‘anticipates’, ‘intends’, ‘looks’, ‘believes’, ‘vision’, or the negative of these terms and other similar expressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Unilever Group (the “Group”). They are not historical facts, nor are they guarantees of future performance.

Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Among other risks and uncertainties, the material or principal factors which could cause actual results to differ materially are: Unilever's global brands not meeting consumer preferences; Unilever's ability to innovate and remain competitive; Unilever's investment choices in its portfolio management; inability to find sustainable solutions to support long-term growth; customer relationships; the recruitment and retention of talented employees; disruptions in our supply chain; the cost of raw materials and commodities; the production of safe and high quality products; secure and reliable IT infrastructure; successful execution of acquisitions, divestitures and business transformation projects; economic and political risks and natural disasters; the effect of climate change on Unilever's business; financial risks; failure to meet high and ethical standards; and managing regulatory, tax and legal matters. These forward-looking statements speak only as of the date of this announcement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Further details of potential risks and uncertainties affecting the Group are described in the Group's filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including in the Annual Report on Form 20-F 2016 and the Unilever Annual Report and Accounts 2016.

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