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Tyson's Latest Investment in China

by 5m Editor
17 July 2008, at 8:36a.m.

CHINA - Tyson Foods has announced plans to invest in Chinese poultry processor, Xinchang Group.

Tyson Foods Inc. announced on 16 July that it is to take a 60 per cent share in Xinchang Group, a Chinese poultry processor located in the coastal province of Shandong, reports Arkansas Business.

The country's fifth largest poultry producer, Xinchang had sales worth $289 million in 2007. When its new plant comes on stream in August, up to 125 million chickens a year will be processed.

Tyson's Shanghai-based country manager, James Rice commented that the company plans to build another plant outside Shanghai to process and package meat from 40 million chickens a year. The company hopes to sell the meat to the Yangtze River Delta market.

Financial terms have not been disclosed and government approval of the deal is pending.

This is the company's second investment in China. During its annual shareholders meeting earlier this year, Tyson said it was buying 70 per cent of breeding company, Jiangsu Jinghai Poultry Industry Group Co. View the Arkansas Business story by clicking here.

5m Editor