On September 16, Liaoning Wellhope Agri-Tech Joint Stock Co., Ltd signed a memorandum of cooperation with India-based company NEXUS Feed Co., Ltd. which will see the set up of a joint venture in India.
The new JV to be named 'NEXUS Hefeng Co., Ltd.', will have registered capital of 100 million rupees (CNY10 million yuan) and be incorporated in Andhra Pradesh, India. Hefeng animal husbandry and NEXUS funded the establishment of the new company, with Hefeng funding at a ratio of 30% to the 70% funded by NEXUS.
The main business of the JV will be focused on poultry feed, cattle feed, fish feed, seafood processing, slaughterhouses, chicken farming and other agricultural undertakings.
The JV was set up to explore market opportunities; with the view that with the complementary strengths of the two sides in the industrial chain, the company can increase competition through cooperation. Advantages that are conducive for more project opportunities.
Founded in April 1995 and based in Shenyang city Liaoning province, Wellhope Agri-Tech Joint Stock Co. Ltd. is the largest feed company in Northeast China. In addition to feed manufacturing, other divisions of the company consist of pharmaceuticals, animal farming and feed machinery and deep processing of agricultural products.
Nexus Feeds is a family enterprise in India. The company is a manufacturer of Premium Quality feeds with the technical collaboration with Hanaqua Tech Inc., Taiwan.