Business
Business Expansion in China
Business Expansion in China.
About this update from Genus Plc
[{"type":"text","content":"\n RNS Number : 6231N Genus PLC 20 February 2009 \n \nFor immediate release 20 February 2009\n\nGenus plc\n('Genus' or 'the Company')\n\nBusiness Expansion in China\n\nGenus, a world leading animal genetics company, is pleased to announce significant advances in its strategy for expansion in China with progress being made in both the bovine and porcine sectors. These initiatives represent major steps forward in the Company's strategic focus on growth in emerging markets whilst maintaining its leading status in the developed world.\n\nJoint Venture with Leading Chinese Dairy\n\nGenus has made an important breakthrough in its strategy to enter the local market in China. An agreement in principle has been made with Mengniu, the market leading Chinese dairy company, to establish a joint venture to produce elite bovine genetics in China. The local semen that will be produced will be marketed and sold in China to Mengniu's substantial existing farmer supplier base through already established distribution channels.\n\nMengniu produces, markets and distributes a wide range of dairy products throughout China, including Hong Kong and Macau, and operates from 23 production bases that have an annual total output of approximately 4.5 million tons of dairy product. Mengniu's contract farmers supply milk from almost twice the number of cows that comprise the UK market. Mengniu was founded in 1999, is listed on the Hong Kong Stock Exchan...