France-based Choice Genetics SAS, a leading global swine genetics and breeding company, will set up a subsidiary in China.
Choice Genetics China will be the groups eighth overseas branch. It already has branches in Europe, the Americas and Asia. "Progress toward opening the subsidiary is going smoothly," said Fu Yan, vice-president of Ningbo Tech-Bank Co Ltd, an agro-processing company.
Ningbo Tech-Bank, which is listed in Shenzhen, acquired a 40.69 percent stake in Choice Genetics from the latters parent company Groupe Grimaud for $15 million in August. The deal, carried out through Ningbo Tech-Banks wholly owned subsidiary Hanswine Swine Industry Ltd, makes Ningbo Tech-Bank the second-largest shareholder in Choice Genetics.
Choice Genetics China will be founded by Ningbo Tech-Bank and Grimaud in Hexian county, Maanshan, Anhui province, where Hanswine is based. Ningbo Tech-Bank said earlier that the two partners will invest $2 million in the subsidiary.
Fu said the partners are discussing details of the joint venture, including final candidates for the post of its chief executive officer, who will probably be a Chinese national.
Although cooperation between Chinese hog producers and Western swine genetics companies is expanding, the Chinese partners often find it difficult to get core technology from their Western partners, which have the most advanced genetics technologies and management practices.
"Most of the sows and boars have been imported, mainly from the United States and Europe. Western breeders have monopolized the supply of breeding stock for many years," said Fu. But the case would be different at Choice Genetics China. "As a major shareholder, we consider it our right to obtain Choice Genetics core genetics technologies.
Fu said: "Although Ningbo Tech-Bank is getting more internationalized, we will be very careful when it comes to patent issues, which is a lesson from the case of Choice Genetics." Choice Genetics US branch lost a patent suit last year, causing financial problems for the group. The investment from Ningbo Tech-Bank helped the company.
Fu got his doctorate in Germany and worked at genetics company PIC, a division of Genus Plc. He returned to China through the governments "1,000 Talent" program, which aims to attract experts from around the world. Fu is also a professor of animal genetics at Zhejiang University, one of the countrys top universities.
Ningbo Tech-Bank, founded in 1997 in Ningbo, Zhejiang province, has developed rapidly in the recent years with support from international cooperation, he said. The company initially focused on animal feed, animal vaccines, aquaculture and biodiesel, before expanding to swine breeding in 2013.
That same year, Ningbo Tech-Bank set up Hanswine and announced the takeover of AgFeed Industries Incs assets in China for $48 million. AgFeed, listed on the Nasdaq, was a US company with primary operations in China.
In the following year, Han-swine raised about 500,000 hogs, sows and boars, making it one of Chinas top 10 swine-breeding companies. "We are confident we can reach annual production of 3 million swine in five years," said Fu.
Huang Chaoyang, executive general manager of Han-swine, said that when annual production reaches 1.5 million hogs, the company will build a slaughterhouse and meat-processing plant.
China is the worlds largest hog producer, with more than 735 million raised in 2014, up from 715 million the previous year, according to the National Bureau of Statistics.
Fu warned that Chinas hog industry faces overcapacity. "Even without imported pork, domestic output can almost satisfy the needs of Chinese consumers," said Fu.
Fu said that overcapacity will not deter Ningbo Tech-Bank from expanding into the hog industry. Rather, it will give the company more opportunities, since its average costs are lower than many of its domestic peers.
Asia, Australia & Oceanic Stories
24/04/2024
SBS marks Earth Day as The Cook Up with Adam Liaw becomes first Australian show ...
24/04/2024
Save money every day with SBS's Ricardo Gon alves and Peggy Giakoumelos on n...
24/04/2024
24 04 2024 - Media release Screen Australia celebrates Australian projects bound...
23/04/2024
Social entrepreneur Hedayat Osyan wins Les Murray Award for Refugee Recognition
23 April, 2024
Media releases
The prestigious award is now in its third yea...
22/04/2024
SBS marks Earth Day with Australian TV milestone as The Cook Up with Adam Liaw b...
18/04/2024
Alone Australia goes from strength to strength
18 April, 2024
Media releases
The program again delivers for SBS with significant uplifts in digital BVOD vi...
18/04/2024
18 04 2024 - Media release Screen Australia and Dynamic Television announce new Scripted Initiative
Savage River
Screen Australia and Los Angeles-based telev...
16/04/2024
ABS Agility Beyond Space announces Appointment of Mark Rigolle as its Chief Ex...
11/04/2024
Alone Australia Ep 2 reaches over 1m Australians
11 April, 2024
Media releases
The program continues to consistently grow week-on-week in linear audience w...
11/04/2024
11 04 2024 - Media release Screen Australia and Meta launch fourth year of First...
10/04/2024
10 04 2024 - Media release Screen Australia announces over $2.3 million for nine documentaries
Guardians of the River
Screen Australia has announced nine doc...
09/04/2024
Groundbreaking NITV documentary series Our Law expands across Australia from Thu...
09/04/2024
Techtel, the creators of inflo, today announced that a new speech to text transcription engine from openai called Whisper, is available to inflo customers who a...
04/04/2024
Manu Feildel, Miranda Otto and Pat Rafter join life-changing new season of Who D...
04/04/2024
Alone Australia season 2 continues to redefine Australian TV viewing through on-...
27/03/2024
Living Black, the longest-running Indigenous current affairs television program ...
26/03/2024
Crime is relative in SBS's new Canneseries nominated crime-family drama with...
25/03/2024
SBS gears up for Season 2 of Alone Australia with the creation of Alone Cologne...
22/03/2024
SBS Learn partners with the Islamic Museum of Australia to support classrooms in...
21/03/2024
21 03 2024 - Media release Screen Australia announces over $1.6 million in support of the games industry
Which Way Up: Galaxy Games
Screen Australia has anno...
18/03/2024
18 03 2024 - Media release Screen Australia and VicScreen launch new Screen Careers initiative
LTR Denise Eriksen, Esther Coleman Hawkins, Caroline Pitcher, K...
15/03/2024
15 03 2024 - Media release The Creators 2024 Participants Announced
The Creators program recipients. L-R Thomas Duncan-Watt, Vanessa Gazy, Sarah Lambert, Lea...
14/03/2024
SBS to mark Ramadan and Eid al-Fitr with all Australians
14 March, 2024
Media releases
Content in 22 languages*, a collection of movies to stream free on d...
14/03/2024
March 14,2024
-- KDDI Corporation
KDDI Corporation resolved at a meeting of the Board of Directors held today to change (newly appointed, retire) a director ...
13/03/2024
13 03 2024 - Media release Screen Australia announces dramas Critical Incident and Sunny Nights for Stan
Critical Incident: Akshay Khanna and Zoe Boe. Photo c...
07/03/2024
Explore the afterlife with SBS podcast Grave Matters'
6 March, 2024
Media releases
Most of us are woefully unprepared for one of life's few certai...
06/03/2024
Multi-award winning electronic music duo to represent Australia at this year'...
06/03/2024
Developing Lunar 3GPP Mobile Network Technologies for Moon Exploration
GITA...
04/03/2024
SBS announces new development fund to discover Australia's biggest and riski...
28/02/2024
Yumi Stynes returns for season two of SBS podcast SEEN'
26 February, 2024
Media releases
Eight new trailblazers join feminist Australian icon Yumi Sty...
28/02/2024
28 02 2024 - Media release Screen Australia announces over $810,000 in development funding for 29 projects
Willy
Screen Australia has announced 23 feature fi...
27/02/2024
27 02 2024 - Media release Michael Ebeid AM appointed as new Screen Australia Chair
Michael Ebeid AM and Megan Brownlow
The Hon. Minister for the Arts, Tony...
26/02/2024
Supporting AFEELAs entertainment experience and global launch with a communicati...
21/02/2024
21 02 2024 - Media release Screen Australia and Australians in Film Announce App...
21/02/2024
Aiming to deliver new video-related solutions utilizing 5G SA this year
Son...
21/02/2024
Support the team with gifts while enjoying AR games in the stadium
KDDI COR...
21/02/2024
KDDI CORPORATION
February 21,2024
-- Tokyo, February 21, 2024 From February 2...
20/02/2024
KDDI CORPORATION
February 20,2024
-- KDDI announces that its consolidated subsidiary, SORACOM, INC. (Headquarters: Minato-ku, Tokyo, CEO: Ken Tamagawa, herei...
15/02/2024
Alone Australia Season 2 Returns 27 March | Meet the Cast
15 February, 2024
Media releases
Smash hit series Alone Australia returns Wednesday 27 March on S...
15/02/2024
NITV's flagship footy show Over the Black Dot returns Tuesday 5 March, live ...
15/02/2024
15 02 2024 - Media release Screen Australia announces over $560,000 for crew and gamemaker skills programs
Liz Keogh Palmer (Australian Production Design Guil...
13/02/2024
2024 is a landmark year for SBS's award-winning current affairs line-up, cov...
13/02/2024
22 01 2024 - Media release Six Australian projects bound for South by Southwest Festival in the US
Audrey, Birdeater, The Moogai
Six Australian screen projec...
12/02/2024
12 02 2024 - Media release Screen Australia and YouTube Australia Launch Skip Ahead 9
Uncovering Street Dance: Australia from Skip Ahead 8. Photographed by Ry...
08/02/2024
08 02 2024 - Media release Screen Australia and ABC announce Bay of Fires is back for season two
Marta Dusseldorp as Stella in Bay of Fires
ABC, Screen Austr...
07/02/2024
4 in 10 Australians battling sleep issues as nation's sleep crisis grows
7 February, 2024
Media releases
Dr Michael Mosley and the sleep scientists fro...
06/02/2024
Six screen creatives selected for the 2024 SBS Emerging Writers' Incubator i...
02/02/2024
SBS Scripted TV Lunch sessions return for another year of connecting with creati...
02/02/2024
February 2,2024
-- KDDI Corporation
KDDI announced the financial results for the third quarter of the fiscal year ending March 2024.
Summary In the third q...
France-based Choice Genetics SAS, a leading global swine genetics and breeding company, will set up a subsidiary in China.
