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News 338 views last update:6 Aug 2012

AgFeed acquires Guangxi Huijie Feed

AgFeed Industries, Inc. announced that it closed a share purchase agreement to acquire all of the shares of Guangxi Huijie Sci.&Tech. Feed Co., Ltd., for RMB 8,600,000 (approximately US$1.09 million) in cash. Funding for the acquisition was secured by a short-term loan to the company.

Guangxi Huijie Sci.&Tech. Feed Co., Ltd. was incorporated under the laws of the People's Republic of China on August 2nd, 2004, in Guangxi Province. The company is engaged in the research & development, manufacture, marketing, and sale of pre-mix feeds, concentrated feeds and blended feeds in China. It offers multiple product brands and pricing levels to cater to all levels of customers.

Currently, the company is mainly selling in provinces of south China including Guangxi, Guizhou, Yunnan and fraction of Henan province.

The unaudited financial results for the 9 months of the year 2006 of Guangxi Huijie Sci.&Tech. Feed Co., Ltd. show revenue of approximately US$1.863 million and net profit US$0.276 million.

AgFeed Industries, Inc. is engaged in the business of manufacturing and selling animal feed for the animal husbandry markets in the eastern regions of China, including sales of products to large pig farms and distributors.

The company has two operating subsidiaries that manufacture pre-mix fodder and blended feeds primarily for pigs, and are among the top producers of such products in their respective regions in Jiangxi province and Shanghai City.

Editor AllAboutFeed

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