Intimex My Phuoc Joint Stock Company (Vietnam)

The subject specializes in processing and trading coffee beans. It does not import but exports coffee beans to many countries in the world such as North America, Southeast Asia, Africa, Northern Europe, etc.On 31 March 2021, the Board of Directors of Intimex Group Joint Stock Company - the subject's parent company submitted a report to the General Meeting of Shareholders on the merger of Intimex Binh Duong Joint Stock Company into the subject. Intimex Binh Duong will become a branch of the subject at Binh Chuan Manufacture Group, Binh Chuan Ward, Thuan An City, Binh Duong Province, Vietnam.The new branch will focus on pepper production. The reason for the merger was the decrease in production and business activities of Intimex  Binh Duong. The merger will enhance competitiveness, optimize business efficiency and existing human resources. After the merger, the total capacity of the coffee processing plant for export reached 210,000 tons/year, up 43%. As shared by accountant staff of the subject, both companies are currently in the process of merging procedures. It is expected to complete by the end of May 2021.