Cobb-Vantress and Hendrix Genetics form alliance
Cobb-Vantress and Hendrix Genetics are forming an
alliance that will enable the two companies to explore other joint venture
This alliance will strengthen Cobb's position in the broiler breeding
industry and Hendrix' leading position in egglayer, turkey and swine genetics.
The two companies have signed a Memorandum of Understanding to:
(a) Form a
Broiler Joint Venture in which Cobb-Vantress acquires Hybro, the broiler
breeding division of Hendrix, in exchange for preferred stock.
(b) Start a
Joint Development Agreement involving their respective Research &
Development into livestock genetics.
(c) To investigate a Possible Joint
Venture in which part or all activities may be combined in the future.
Completion of the Broiler Joint Venture and the Joint Development Agreement
is expected in the first half of 2008 and is subject to various necessary
consents, including workers council, board of directors, shareholders and to the
extent applicable, any other applicable approvals.
â€œThe combination between Cobb-Vantress and Hybro creates an even stronger
global leader in broiler breeding with a further complementary portfolio of
product, clients, markets and production structures,â€ says Jerry Moye, president
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