LHMC and Chiao Thai Hsing Enterprise Co. signed an LOI for strategic alliance

Lien Hwa Industrial Corporation transformed to "Lien Hwa Industrial Holdings Corporation" (TAIEX: 1229, hereinafter"LHIHC") on September 1, 2019 and separated its milling business into Lien Hwa Milling Corp (hereinafter "LHMC"). Today (March 20, 2020), LHIHC announce the resolution to approve an LOI between LHMC and Chiao Thai Hsing Enterprise Co.,Ltd (hereinafter "Chiao Thai Hsing") with regards to a strategic alliance. Simultaneously, Chiao Thai Hsing will announce its plans to invest in LHMC shares in order to strengthen our collaboration.

LHMC is a subsidiary established under LHIHC to separate its milling business into an operationally distinct entity. It is the largest, both in terms of size and volume, flour production corporation in Taiwan. LHMC holds multiple certifications in food safety in addition to recently acquired ISO 17025 Lab Certification and the highest level of SQF Certification, making it the only flour company with dual global certifications in Taiwan, with recognizable brands such as 「Blue Jacket」、「Camel」、and 「Turnip」.

Chiao Thai Hsing was founded in 1953 and became well known in the food industry with its signature ChiaHe brand flour. The brand is loved and the top choice by many local shops and celebrated brands. Chiao Thai Hsing holds multiple food safety certifications including ISO 22000, HACCP, HALAL, and TQF certifications. It is also the first to receive the highest level of SQF certification in Taiwan, with multiple signature brands such as 「Blue Daisy」、「Blue Gladiolus」、「Yellow Label」.

The purpose of this alliance is to combine LHMC and Chiao Thai Hsing's vast strategic resources, strengthen our operational efficiency and maximize economies of scale to provide unrivaled safety assurance, research capability, and competitive advantage.

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