The BioMar Group has today signed a Memorandum of Understanding with the Chinese Tongwei Co. Ltd to establish a Joint Venture dedicated to producing and selling high performance feed for aquaculture in China. The target of the Joint Venture is to become one of the leading suppliers of high performance feed to the Chinese aquaculture sector and in a second step to expand further to other Asian markets.
The two companies have agreed to start building a feed factory with an annual capacity over 100,000 metric tons in China, scheduled to start operation in 2016. In the next stage BioMar and Tongwei target to expand with 3‐5 new factories of a similar or larger scale in China and to expand with production and sales in other countries in Asia.
BioMar's entry into the Chinese market is according to the CEO of the BioMar Group, Carlos Diaz, a part of a global expansion strate.. Full Story »
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