July 7, 2010

China's Kangda Food sets up chicken, seafood unit

China's Kangda Food Company said Tuesday (Jul 6) its unit Shandong Kaijia Food has set up a wholly owned subsidiary for chicken and marine products and vegetables in China.

The new company, which has an initial capital of RMB1 million (US$147,000), will provide Kaijia Food with products for its food-processing business.

Kangda said the establishment of the new unit would not have an impact on its earnings per share and net tangible assets for the current year.