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Tyson forms chicken joint venture in China
Tyson Foods has said that it plans a partnership with
a Chinese poultry breeding company to run a chicken processing plant near
Shanghai.
Tyson has announced that it is forming a joint venture with Chinese company
Jiangsu Jinghai Poultry Industry Group Co. Ltd., to raise, process and sell
chickens in east China under the Tyson brand. Terms of the agreement were not
disclosed, but it is reported that Tyson will own 70% of the joint
venture.
The companies anticipate that Jiangsu Tyson Foods in Haiman City, near
Shanghai, will begin operations in 2009, and expect the plant to produce 400,000
birds each week with plans to increase to 1 mln birds a week.
"Demand for high quality, fresh chicken in China is growing faster than the
existing domestic supply," said Tyson's president and chief executive Richard
Bond. "We intend to help meet this need by becoming the first producer to
deliver brand name, high quality fresh chicken to consumers in the eastern China
market."
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Editor WorldPoultry
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