April 11, 2008

Growmark to cut investment in Mexican feed manufacturer

Growmark announced it would reduce its investment in a Mexican feed manufacturer, maltaCleyton, which is restructuring its ownership.

Evialis, a France-based developer, manufacturer and distributor of feeds for livestock and exotic animals, expressed plans to purchase 70 percent of maltaCleyton.

Bloomington-based cooperative Growmark Inc. has owned as much as 50 percent of maltaCleyton since 1996 through a wholly-owned subsidiary and will retain 10 percent ownership interest in the business.

The management staff of maltaCleyton will retain 20 percent of the ownership.

Evialis' health division develops and manufactures medicinal feed additives while its international business exports feeds and premixes and provides advisory services to other feed manufacturers. With manufacturing throughout the world, the company's products are available in more than 50 countries.