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.