December 13, 2006

Canadian company buys stake in Chinese pork company

Hytek Ltd, a pork production company based in La Broquerie, Manitoba, has signed a deal to purchase significant equity interest in Chongqing Tianson Food Holdings Co. Ltd. (Tianson Foods), based in Chongqing, China.

Tianson Foods owns a feedmill, pork production facilities, slaughtering and processing plants and retail meat stores in China.

Meanwhile, Hytek's subsidiary Fast Genetics Inc., a swine genetics company, has signed a licensing and dealership agreement with Tianson Foods to distribute Fast Genetics products in China. Fast Genetics Inc will export genetics to China to populate nucleus facilities owned by Tianson Foods.