January 6, 2014

Truein Group announces joint venture to set up swine breeding company in the United States

On 5th January, Truein Group announced that the company is entering a joint venture with Tangrenshen, CP Group Livestock Investment (Beijing), Guangdong Wens Group and Whiteshire Hamroc LLC, to set up an "American International Swine Breeding Co., Ltd. " (tentative name).

The new company has a registered capital of US$ 14 million. Truein Group contributed 5% of the registered capital with its US$ 700,000 investment, while Tangrenshen with its US$ 5.04 million accounts for 36% of the registered capital.

Under the signed agreement, the breeding centre will be based in Indiana, United States, where the swine genetics company, Whiteshire Hamroc LLC, is currently based. With a total area of 8.67 hectares, the centre is designed to rear 1200 swine. Furthermore, the centre will be incorporating the world's best breeding tools to breed new swine varieties that target Chinese consumers.

Truein Group cited that this joint venture will help to leverage on the advantages of all parties and to better integrate their resources. Most importantly, it will help to further enhance the level and quality of swine for the companies, creating a win-win cooperation.