Nutreco buys out Chinese fish and shrimp feed company
Nutreco announced that it has successfully completed the acquisition of 100% of the shares in Zhuhai Shihai Feed Co. Ltd. (Shihai), a reputable and profitable fish and shrimp feed company in China.
The revenue in 2010 was EUR 65 million. This acquisition will provide Skretting, the Nutreco fish feed business, with a production base in China, the world's number 1 aquaculture feed market.
The acquisition is 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 14 February 2011 and was subject to approval of the Chinese authorities. These 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. Shihai employs approximately 300 people. Skretting will continue growing the business, supplying fish feed for species such as shrimp, various marine fish species, tilapia, snakehead and catfish.
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