November 19, 2007
AgFeed Industries signs US$1.2 million in product supply contracts
AgFeed Industries, Inc. announced the signing of a US$1.2-million worth of premix product supply agreements with regional distributors in China's Shandong province.
The company also reported its opening of a fourth plant in Shandong province by leasing an established manufacturing facility. Expansion to China's vast northern regions has been one of the primary targets of the company for 2008.
Junhong Xiong, AgFeed's CEO, said that Shandong represents China's second largest feed market.
AgFeed further plans to position its hog farms in close proximity with the feed manufacturing facilities.
AgFeed is a US-based company listed on the NASDAQ Global Market. Through its subsidiaries in China, it has been a market leader in China's fast growing premix animal nutrition industry.