March 22, 2006

South Korea's CJ Corp to set up feed firm in Hong Kong

CJ Corp said on Tuesday it will set up a holding company in Hong Kong  this year to manage its overseas feed business.

CJ has 14 feed plants in five Asian countries including China, Indonesia and Vietnam.

CJ corp, a South Korean conglomerate, has diverse business interests ranging from food processing, pharmaceuticals to the entertainment industry. The company also manufactures feed additives such as lysine and threonine. 

The company also plans to list the holding company on the Hong Kong's stock exchange in 2 years, CJ said in a statement.

South Korea imports about 90 percent of its grain needs for feed.