April 17, 2007
AgFeed Industries, Inc. (AGFI) announces new baby pig growth product
AgFeed has announced a new product for the premium market for baby pigs, a US$3.8 billion per year business in China.
The product was made in collaboration with Professor Bud Harmon of Purdue University, a renowned professor and scientist in the animal nutrition industry and a technical advisor to the company.
The company is targeting the premium market for baby pigs, a US$3.8 billion per year business in China, said Songyan Li, PhD., Chairman of AgFeed Industries.
AgFeed signed over US$2 million in sales contracts during the first month of its product launch. The company has just completed a strong first quarter and expects rapid growth to continue throughout the year.
Established in 1995, AgFeed is a US company headquartered in China and is the first China-based publicly traded animal nutrition company in the US. The company is one of the top companies in the pork premix market in China's east coast provinces.
Through three operating subsidiaries serving several key markets in Jiangxi Province, Shanghai, and Guangxi Province, the company has become a leading manufacturer, marketer and distributor of animal nutritional products in China.
In addition to organic growth through deeper market penetration in the existing and newly developed markets, AgFeed plans to expand by acquiring several feed companies in China's Southern and Western regions.
Besides premix for pigs and piglet blends, AgFeed also produces pre-mix for the poultry industry. Poultry feed sales constitute less than 10 percent of its total sales.