Asia Foods was incorporated in 1976 to engage in the processing and export of frozen vegetables. At the time of its establishment, the Company was one of Taiwan's first frozen vegetable processor. Since than the Company, under the guidance of Founder President Lin Chang Chi, has become one of the leading and largest multinational supplier and manufacturer of frozen vegetables in the Pacific Rim. In 2001, total sales reached 35,000 tons and we expect it to increase at a moderate pace.
Currently, Asia Foods has eight core factories; one is located in Taiwan, Vietnam, Indonesia two in Thailand, three in China, Of these eight factories, four process conventional frozen vegetables, one processes frozen organic vegetables, all for markets worldwide. Aside from our core factories, Asia Foods has an investment in two factories which process frozen kabayaki eel and another that process frozen prepared seafood. We are also involved in the import trading of frozen French fries, corn and green peas for the Taiwan, China domestic market. More recently, the Company through Asia Farm has ventured into the retail service business, launching its first delicatessen shop in Taiwan in 2001. Finally, we have recently joint ventured with Taiwan Uni President Group and Japan Musashino Group to produce Japanese rice balls and bento boxes for the Taiwan home meal replacement market.
To date, Asia Foods has been growing at a faster rate than that of the industry average. We attribute our successful growth to the Company philosophy of offering its customers high quality, healthy and safe products at a competitive price. As an extension of this philosophy, the Company has implemented and adhered to six important strategies, which over the years, have resulted in the Company not only developing a competitive advantage but also solidifying its strong reputation in the food industry.