April 23, 2012

China's Tingyi to team up with Japan partners

Tingyi (Cayman Islands) Holdings Corp., a top-ranking food and beverage maker in China, seeks to join forces with Japan-based companies to push into meat processing.

Tingyi, through its affiliated company, has entered into an agreement with Calbee, Inc. and Itochu Corporation for the establishment of a joint venture in China. The venture, expected to process and sell meat products like high-end ham and sausages, will start sales next year at the earliest.

The venture, to get production technologies from Calbee, will make products sold under the trademark of Tingyi and Calbee. The to-be-launched company will initially build a plant in Jiangsu province.