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Article: Kentucky Fried Chicken forms venture to build KFC restaurants in Shanghai.
- Article from:
- PR Newswire
- Article date:
- December 15, 1988
CopyrightCOPYRIGHT 1988 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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KENTUCKY FRIED CHICKEN FORMS VENTURE
TO BUILD KFC RESTAURANTS IN SHANGHAI
Adding Local Partner Sets Stage for Outlets in City of
12 Million People; First Unit Expected to Open in 1989
LOUISVILLE, Ky., Dec. 15 /PRNewswire/ -- Kentucky Fried Chicken today announced it has formed a joint venture to build KFC restaurants in Shanghai, China, a city of some 12 million people.
The company made the announcement after enlisting a local Chinese partner, the Shanghai New Asia Group Ltd., to join a venture group formed in Hong Kong earlier this year by Kentucky Fried Chicken and CT Progressive (Sino) Agro Ltd.