Three Companies Set Up RMB 60M JV

   Date:2011-12-20     Source:puchangpingxyw

DECEMBER 16 -- Shandong Minhe Animal Husbandry (002234.SZ), Shandong Yisheng Livestock and Poultry Breeding (002458.SZ), and Liuhe Group, a wholly-controlled subsidiary of Sichuan New Hope Agribusiness (000876.SZ) plan to invest 60 million yuan to set up a breeding company in Anhui with Shouguang Tianhui Food, reports, citing filings by the three companies.

Yisheng Livestock, Minhe Animal and Liuhe Group will each contribute 18 million yuan to the establishment of the company, for a 30 percent shareholding each.

Shouguang Tianhui, a subsidiary of Liuhe Group, will inject six million yuan for a 10 percent stake.

The new company will invest in a broiler breeder facility which will cover a land area of 210 mu (one mu = 666.67 square meters), and have capacity of 180,000 broilers.

According to Yisheng Livestock, the project will expand capacity, optimize the layout of its breeding facilities, extend its industry chain, and increase the scale of its business.


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