September 21, 2009
Marubeni opens joint-venture meat shop in Shanghai
Marubeni Corp. has opened a joint-venture meat shop in Shanghai's Pudong district in partnership with major Chinese feed and livestock companies.
The joint venture plans to open 10 shops by the end of 2010, mostly in Shanghai, to meet growing Chinese demand for high-quality meat.
The entity's worth is US$2 million dollars. The Japanese trading house owns a 49 percent stake, Shandong Liuhe Group Co. of Shandong Province a 26 percent stake, and New Hope Group of Sichuan Province a 25 percent stake.
Some of the meat will be marbled beef from Marubeni's Australian ranch, which also exports to Japan.
