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Metro Group Starts Cash & Carry Business in Vietnam

27.03.2002

Metro Group Starts Cash & Carry Business in Vietnam

Duesseldorf, 27 March 2002 – Tomorrow, Thursday 28 March 2002, the international operating Metro Group, Duesseldorf, will complete market entry into Vietnam by opening a Metro Cash & Carry store in Ho-Chi-Minh City. After the People’s Republic of China this is the second market in Asia that the group moves into. The group’s sales divisions are now operating in 25 countries. The consistent internationalization of the Metro Group will be vigorously promoted in the course of the year 2002 with market entries of Metro Cash & Carry being planned in India and Japan.

The wholesale store in Ho-Chi-Minh City operated along the lines of the "Junior" concept was built in about six months. On 9,000 square meters of selling space it will offer some 14,000 items mainly in the food segment addressing itself exclusively to professional customers holding a Metro membership card. More than 90 percent of the food items come from local producers for whom Metro Cash & Carry, in a first-time cooperation with "Deutsche Investitions- und Entwicklungsgesellschaft" has launched a development program: In the next few years some 4,000 Vietnamese farmers will be trained and nine new abattoirs will be built.

The capital expenditure for the first Metro Cash & Carry store in Vietnam amounts to € 20 million. In the medium term a nationwide store network of eight wholesale outlets is planned requiring total investments of € 150 million. In this context the Metro Group will create 2,500 new jobs – mainly for local staff.

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