About PAN

PAN GROUP officially disinvested from industrial cleaning service

The PAN Group has announced that it will divest all capital from PAN Services,  marking the official milestone of withdrawing from the industrial cleaning sector and dedicating itself completely to the field of food and agriculture production.


On 31/12/2018, the PAN Group completed the transfer of the PAN Group’s total contributed capital equivalent of 20% from their charter capital at Xuyen Thai Binh Duong Services Company Ltd (PAN Pacific Services). Therefore, PAN Pacific and PAN Pacific Services are no longer associates of the PAN Group. The partner in this deal is an organization from Japan - Nihon Housing.

 

The reason the PAN Group is selling the PAN Services shares is to focus on the agricultural and food segments - PAN's spearhead after transforming its model. The move to divest 100% of capital from the industrial cleaning sector is part of the process which will transform the PAN Group completely into the field of agriculture and food with the vision of becoming a leading regional group.  This will allow the group to provide reliable products with breakthrough solutions from Vietnam to world markets through the Farm, Food, and Family value chain.

Earlier, in March 2016, the PAN Group announced it was selling 80% of the PAN Services shares to the Japanese organization Nihon Housing. The sale of PAN Services to Nihon Housing is expected to increase income and create more jobs for the group. Nihon Housing, with its insights and experience in the Japanese market, shall bring valuable development to PAN Services.
PAN Services was established in 1993 and switched to cleaning services after the financial crisis in 1997. With an initial size of only 17 employees, the PAN services has dramatically developed to a size of more than 5000 employees, specializing in providing professional industrial cleaning and utility services for corporations and organizations, including international utility services in Vietnam for foreign partners.


After divesting all of the PAN Services's capital, the PAN Group now owns the following subsidiaries: PAN Farm, PAN Food (Pan Food) and indirect subsidiaries, affiliated companies Vietnam National Seed Group Joint Stock Company (Vinaseed) and PAN-SALADBOWL, Long An Food Processing Export Joint Stock Company (LAF), Ben Tre Aquaproduct Import and Export Joint Stock Company  (ABT), Bibica Joint Stock Company, 584 Nha Trang Seaproduct Joint Stock Company, PAN Food Manufacturing Joint Stock Company (PFM), Sao Ta Foods Joint Stock Company (FMC), Vietnam Fumigation Joint Stock Company (VFG) ...
In terms of strategy, the PAN Group will continue with their M&A focus on companies with strengths in the field of food and agriculture.  By 2022, the PAN Group’s target is to reach a revenue of about 1 billion USD after tax, and a profit of about 95-100 million USD, becoming one of the leading Vietnamese companies  in  food and agriculture.



 



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