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'Olympic' pork processor taken over
Qianxihe Food, a Beijing-based pork processor, is being bought by China's
biggest feed manufacturer, New Hope Group.
New Hope announced it is buying a 60% stake, involving about €12.3
million.
Qianxihe will be the exclusive supplier of fresh and
processed pork products for the Beijing Olympic Games, to be held next
year.
Facilities
The pork processor has a total
annual slaughtering capacity for approximately five million pigs, having two
modern slaughtering facilities in Beijing and Hebei.
The company has
another abattoir in Liaoning province under construction.
New Hope
aims to be diversifying its business, hence the take-over. Almost two years ago,
the company acquired a majority stake in Shandong Liuhe, a feed manufacturer and
poultry processor in East China.
Related
websites:
•
New Hope Group
• Beijing Olympic Games
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