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update:Sep 12, 2008
Tyson forms JV in China
US protein giant Tyson Foods announces that it has
entered into an agreement with the Shandong Xinchang Group involving the
acquisition of its vertically integrated poultry operations in eastern
China.
Once government apporval has been given, the company
will receive 60% ownership in vertically integrated poultry operations
consisting of Xinchang's existing assets, as well as the acquisition of a new
poultry processing complex on the east coast of Shandong Province.
Shandong Xinchang Group has estimated sales of $345 mln in 2009. The name
of the venture between the two companies will be Shandong Tyson Xinchang Foods
Company.
Editor WorldPoultry
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