January 14, 2010

 

AgFeed to reorganise corporate structure

 

 

AgFeed Industries, Inc., a hog production and animal nutrient company in China, will reorganise its corporate structure into two separate wholly-owned businesses.

 

The first business unit is its animal nutrients feed operations and the second is its genetic hog production operations. The move is made to maximise growth in 2010 and beyond.

 

Each business line will have a board of directors, an executive-level management team with strong industry experience, financial systems designed specifically for their operations and internal financing capabilities.

 

AgFeed said it will remain the holding company and will also continue to indirectly hold a 65% controlling interest in AgFeed International Protein Technology Corp., the joint venture it established with M2P2 LLC in 2009.

 

AgFeed expects to announce executive-level appointments for each of its business units on January 29.

 

Xiong Junhong, AgFeed's president, said the new corporate structure will facilitate the expansion of the company's existing additive pre-mix business to include compound feed and concentrated feed.

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