Xinhua Silk Road: Snowsky Salt (600929.SH) subsidiary joins hands with Faesol to explore Singaporean salt market

BEIJING, May 30, 2024 /PRNewswire/ — Hunan Snowsky Import and Export Trade Co., Ltd., a subsidiary of Snowsky Salt Industry Group Co., Ltd. (Snowsky Salt, 600929.SH), inked a strategic cooperation agreement with Singaporean company Faesol at the China (Hunan)-Singapore Investment and Trade Cooperation Forum held in Singapore on Tuesday.

Photo shows that a strategic cooperation agreement between Snowsky Salt subsidiary and Singaporean company Faesol is signed at the China (Hunan)-Singapore Investment and Trade Cooperation Forum held in Singapore on May 28, 2024. (Provided by Snowsky Salt)

The cooperation aims at promoting low-sodium salt in the Singaporean market and jointly developing and promoting the “Snowsky plus iLite” double-brand salt products.

K-Salt, a low-sodium salt product jointly launched by Snowsky Salt and Faesol, has entered local catering and supermarket channels in Singapore for sales, and meanwhile realized online and offline sales in the Malaysian market. Based on sales channels in the Singaporean and Malaysian markets, Snowsky Salt will further tap into the markets of other Southeast Asian nations.

Established on December 16, 2011, Snowsky Salt focuses on the research and development, production and sales of salt and salt chemical products. It was successfully listed on the Shanghai Stock Exchange on March 26, 2018, known as “the first share of China’s salt reform.”

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