Henan Shineway reports increase in turnover

Henan Shineway Group, a meat processor in China, booked sales of RMB40.07 (US$5.87 billion) in 2009, up 14.29% on-year.

Profits were up 55% at RMB3.2 billion (US$469 million).

In December 2009, Shineway said it will invest RMB1.72 billion (US$ 252.2 million) with Japan's Nippon Ham Group to build a poultry farm in its home province of central China's Henan.

The project is expected to come into operation in 2010 and will be able to produce 300,000 tonnes of feed, 50 million chickens and 120,000 tonnes of chicken meat products every year.