|
|||
|
- Appointments
- Arable
- Bees and Beekeeping
- Cattle
- Cereal
- CLA
- Crops
- Dairy
- Deer
- Diversification
- Education
- Farmshops
- Feed
- Finance
- Forestry
- Grassland
- Husbandry News
- Machinery
- Market Reports
- Meat Processing
- News
- NFU
- Organic
- Pigs
- Poultry
- Produce
- Products
- Property News
- Renewable Energy
- Sheep
- Shows and Events
- Supermarkets
- Top Tips
- Veterinary and Husbandry advice
- Veterinary News
|
||
|
||
|
||
|
||
|
||
|
||
|
||
|
||
|
||
|
||
|
||
 |
||
 |
||
 |
||
|
Manswood
£ 1,500,000
Dorset , Southern England 
|
|
NORTHWICK
£ 185,000
Gloucestershire , Western England 
|
|
HILL VIEW FARMHOUSE
£ 750,000
Gloucestershire , Western England 
|
|
The Firs
£ 775,000 ONO
Gloucestershire , Western England 
|
|
STOCKWOOD VALLEY RI..
£ 175,000
Bristol , Western England 
|
 |
06/01/2009 00:45:38
China-Meat company doubles production.
Source:
Bookmark with:
 |
| |  |
| |  |
| |  |
| |  |
| |  |
 |
| |  |
| |  |
| |  |
| |  |
| |  |
CHINA.
MEAT EXPANSION.
The Yurin Food Group, which is the largest producer of pork in China, is planning to double its capacity and production of pork.
The company plans a HK$4 billion investment, to buy out smaller rivals and improve existing production facilities, the company announced on Sunday night in Beijing.
The Chief Operating Officer, Zhang Yuanfei, said "China will be affected less than other countries in this financial turmoil and household income will continue to grow despite the recession".
The rising incomes in China in recent years, have increased the demands for poultry and pork.
Yurin currently produces 15 million pigs per year, this is now going to rise to 30 million pigs, producing 8,000 tons of pork per week.While 70% of the meat consumption in China is pork, prices have fallen by 16% this year on the home market
The company is in part owned by JP Morgan & Chase and in part by Goldman Sachs, in concert with the government of China.
Zhang said "we have enough to fund our expansion. This means we have no plans to raise capital from the markets or the banks. The company has HK%1.7 billion of cash on hand, with cash flow of HK$7-800 million and a bank loan in place for HK$450 million".
China has clamped down on the licensing rules on small meat processors, in the wake of the recent food scandals in the dairy sector.
The current 20,000 processors, will be scaled down to 7,000 ultra modern state-of-the-art plants within 10 years
The Yurin Food Group, which is the largest producer of pork in China, is planning to double its capacity and production of pork.
The company plans a HK$4 billion investment, to buy out smaller rivals and improve existing production facilities, the company announced on Sunday night in Beijing.
The Chief Operating Officer, Zhang Yuanfei, said "China will be affected less than other countries in this financial turmoil and household income will continue to grow despite the recession".
The rising incomes in China in recent years, have increased the demands for poultry and pork.
Yurin currently produces 15 million pigs per year, this is now going to rise to 30 million pigs, producing 8,000 tons of pork per week.While 70% of the meat consumption in China is pork, prices have fallen by 16% this year on the home market
The company is in part owned by JP Morgan & Chase and in part by Goldman Sachs, in concert with the government of China.
Zhang said "we have enough to fund our expansion. This means we have no plans to raise capital from the markets or the banks. The company has HK%1.7 billion of cash on hand, with cash flow of HK$7-800 million and a bank loan in place for HK$450 million".
China has clamped down on the licensing rules on small meat processors, in the wake of the recent food scandals in the dairy sector.
The current 20,000 processors, will be scaled down to 7,000 ultra modern state-of-the-art plants within 10 years
Back to news index
No Comments
Nobody has posted any comments on this story.
 |
|
