LONDON (dpa-AFX) - Genus (GNS.L), an animal genetics company, reported signing a second porcine joint venture agreement in China. This new joint venture is for a 1,000 sow nucleus farm with Yunnan Shennong Agricultural Group Co. Ltd., the integrated pork producer in the Yunnan province.
The joint venture expands further Genus' porcine business in China and is in line with its corporate strategy to focus on growing in key markets and segments such as the Chinese integrated pork producer division. Genus woud be a 65% partner in the JV through a cash investment of about 2.7 million pounds. The JV would operate a state of the art nucleus farm, scheduled for completion within the next year.
The joint venture would produce crossbred grandparent females. Shennong would use at least 40% of the output to support the expansion of its pig production programme. The remaining animals would provide important additional volume to support the growing sales of PIC breeding animals in China. Once in full operation, which is likely to be in 2014, the herd would underpin production of 2.5 million slaughter pigs per year.
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