October 19, 2006

Tongwei group gains accreditation as world's largest aquafeed manufacturer
 

With revenues of RMB10 billion assured for 2006, Tongwei group is slated to be the world's largest aquafeed company, according to valuations from the China Feed Association, China Aquaculture association and the relevant government agencies. 

Revenues last year hit RMB 8.5 billion last year and the company is targeting RMB11 billion in revenue next year. 

At present, the group has more than 60 branches spread throughout China and holds a 15 percent share of the Chinese market. The company aims to raise its domestic market share to 30 percent in the next 5-10 years. The group has captured a quarter of the aquafeed market in Suzhou, and 20-30 percent of the market in the Zhujiang river region in Guangdong and the provinces of Hunan, Hubei and Sichuan. 

The group has reached annual production capacity of 5 million tonnes and has been the country's market leader for ten consecutive years.

According to industry analysts, there is still much room for growth for the aquafeed giant.

The company aims to leverage technology to continue leading the industry while improving its feed quality and assuring feed safety in both domestic and international markets.