October 21, 2011
Nutreco announced Thursday (Oct 20) it has officially completed full acquisition of the shares in Zhuhai Shihai Feed Co Ltd, a fish and shrimp feed company in China.
This acquisition will provide Skretting, the Nutreco fish feed business, with a production base in China, the world's largest aquaculture feed market.
The buyout is also fully in line with the strategy to capitalise on Nutreco's leading fish feed positions by expanding in new regions and into feed for other species.
The acquisition was announced on February 14 this year and was subject to approval of the Chinese authorities, who have now granted their permission.
Shihai supplies a growing market and produced approximately 100,000 tonnes of fish and shrimp feed in 2010, a year in which it commissioned a new feed plant with a capacity of approximately 150,000 tonnes.
The new plant is constructed and equipped to a high standard and is capable of operating to Skretting specifications. The company said Skretting will continue growing the business, supplying fish feed for species such as shrimp, tilapia, snakehead, catfish and various marine fish species.