July 25, 2006

China's Shanghai Bright Diary to merge with three other companies

Bright Dairy & Food Co Ltd, said its parent, Shanghai Bright Diary Group Co Ltd, and three other Shanghai food companies are merging to form a conglomerate named Bright Foods (Group) Co.

The other companies in the group are Shanghai Sugar Cigarette & Wine (Group) Co Ltd, SAICG and Jinjiang Food, Bright Dairy said in a statement to the Shanghai stock exchange.

The consolidation was made under the auspices of the Shanghai government and the State-owned Assets Supervision and Administration Commission.