Orion end joint venture with PepsiCo

South Korean snack manufacturer Orion is to end their joint venture partnership with PepsiCo. Orion will buy a 37.5 holding in the joint venture Orion Frito-Lay for the sum of US$ 40 m; the remaining 12.5 % is to be purchased at a later date.The joint venture,established on a 50/50 basis in 1987, reported sales of over US$ 125 last year.