AgFeed to buy more farms in China
Animal-feed and pork company AgFeed Industries Inc
agreed to buy four pig farms in South China, and plans to acquire at least five
to 10 others before the end of 2008.
AgFeed, which has its main operations in China, said all its pig farm
acquisitions are immediately accretive to earnings. It expects the acquisitions
in South China to close in early September. Earlier this month, AgFeed more than
doubled its second-quarter profit that topped analysts' estimates, helped in
part by higher pig sales due to newly acquired farms.
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