AgFeed Buys Several Pig Farms in China
CHINA - China's AgFeed Industries, Inc. has signed agreements to acquire a majority ownership of several commercial pig farms located in south China provinces.
17 April 2008
2 minute read
AgFeed expects these acquisitions to close by early May 2008 and has agreed to pay, on average, less than three times the projected 2008 net income for the pig businesses.
Taking on these production businesses allows further integration of the pork chain and greater control of feed and pork supplies. The aquisitions are expected to generate around 390,000 in annual pig production for AgFeed which it says will add approximately 250,000 pig sales to its 2008 revenues.
