February 27, 2008

Yurun Group acquires Wuzhou's beef processing business

In an agreement concluded recently, Jiangsu province-based Yurun Group had acquired Wuzhou Food Company's beef processing business for an undisclosed sum. Wuzhou is based in the eastern Chinese province of Anhui.

Under the deal, Yurun will own Wuzhou's brand names and take over its beef processing facilities. Upon completion of this acquisition, Yurun will invest an additional RMB300 million in a 30,000 tonne per year processed beef production plant in Mengcheng Economic Development Zone in Anhui province. Products will be marketed under the Wuzhou brand name.

The new plant is scheduled for completion in 2009.

RMB1=US$0.1398 (Feb 27)