February 23, 2009
Genus forms joint venture with China's Mengniu
British animal genetics company Genus Plc had entered into a joint venture with China's Mengniu Dairy.
Genus, which creates technology for breeding cattle and pigs, said Friday (Feb 20) it had agreed in principle with Mengniu to market and sell bovine semen to Chinese farmers through established distribution channels.
Genus will transfer 14 progeny tested bulls from its Australian stud to China and some semen from the US to represent opening stock.
Genus also announced it would boost its pig breeding capacity to an estimated 17 million pigs per year to meet a forecast increase in demand in China.
The joint venture, which is part of Genus' strategy to expand into emerging markets, will be confirmed by a formal agreement, the company said.
