March 19, 2009
China's Jiangsu Zhengbang Technology to enter meat food industry
Jiangsu Zhengbang Technology Co Ltd announced Tuesday (Mar 17) that its subsidiary company, Jiangxi Zhengbang Breed Aquatics Co Ltd, will be establishing a joint food venture in Beijing.
Jiangxi Zhengbang Breed Aquatics Co Ltd will invest RMB3.06 million (US$448,000) to own a 51 percent stake in the joint venture.
At the same time, Zhengbang Breed Aquatics plans to incorporate Zhengbang Live & Fresh Food Co Ltd with a capital of RMB3.6 million (US$527,000) and will take a 60 percent stake.
This move is expected to help the subsidiary company to break into the meat food industry and open more profit-making channels.
The company also intends to build a food industrial park that specialises in the slaughtering of live hogs and processing of pork at Xingan County, Jiangxi Province.
