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 Jiangxi.
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.”
Operations
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.
Related website:
• AgFeed Industries
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