AgFeed Industries to acquire breeder hog farm
US company AgFeed Industries Inc. announced yesterday
in a press release that it is to acquire Jiangxi Lushan Breeder Pig Farm Ltd.,
the largest breeder hog farm in China situated in the agricultural province
AgFeed is a leader in China's premix animal nutrition
industry. The acquisition, according to company Chairman, Songyan Li, "is part
of the strategic plan for 2008 involving growth and acquisitions in two
segments: animal premix feed and hog raising in order to take advantage of
pricing and other synergies between both businesses."
An amount of US
$3.3 million is to be paid for 90% of the pig farm.
Junhong Xiong, CEO
of AgFeed, is confident that the company's "earnings growth will continue into
2008 with the addition of the hog farm business."
AgFeed Industries is a
US company with its main operations in China.
It is a leading
manufacturer, marketer and distributor of premix animal nutrition products
targeting China's growing animal feed market worth around $40 billion in 2006
according to China Feed Industry Association.
â€¢ AgFeed Industries
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