December 2, 2013

 
Bank of China provides funds for Shuanghui International's business expansion

Shuanghui International Holdings Limited has entered into a RMB50 billion (US$8 billion) non-binding strategic cooperation framework agreement with Bank of China.

Shuanghui International and its subsidiaries would have the flexibility to utilise the proposed services and new funding arrangements to invest in operations, fixed assets, international trade initiatives, potential mergers and acquisitions, and other corporate purposes.

"Bank of China has been an essential, long-standing partner throughout our growth, and we are deeply grateful for their strong and sustained support as we continue to explore ways to profitably expand our business worldwide," said Shuanghui International Chairman and Chief Executive Officer Wan Long.

Shuanghui International is a Hong Kong-based privately held company and a global leader in animal protein and the world's largest pork producer. It owns a variety of food and logistics enterprises, including Smithfield Foods, Inc. and Henan Shuanghui Investment & Development Co. Ltd. Smithfield Foods is the world's largest pork processor and hog producer. Henan Shuanghui Investment & Development is China's largest meat processor and is publicly listed on the Shenzhen Stock Exchange.