Cooking, Food & Wine

Japan Mitsubishi Corporation (hereinafter referred to as Mitsubishi) and business group--China's largest food group limited company set up a joint venture company, engaged in businesses such as poultry, pig-breeding and meat processing. Reuters quoted yesterday Japan Economic News reported that the creation of a new mode of Chinese State-owned enterprises in cooperation with Japanese companies.

according to in the grain yesterday to morning Post reporter provides of message, Mitsubishi commercial thing will and Iraq vine ham Corporation and the m long Corporation through previously by three party common funded established of investment company MIY (Xia said MIY), on in the grain its to meat and processing food for main business of company for funded, MIY this funded will subscription joint venture company 33% equity, in the grain group holds joint venture company 67% shares. Ito ham and Yonehisa are the Mitsubishi Corporation subsidiary.

medium grain official website displays, COFCO COFCO's meat business company for meat co., Ltd.

in the grain, by 2017, grain, Mitsubishi Corporation, Ito ham and Yonehisa four companies about investment in the joint venture will amount to 10 billion yuan, in China's domestic circulation of farms, meat processing, base-building, expansion of the livestock and poultry breeding, processing sales and import business, plan to the company's sales increased from about $ 2.3 billion in 2010 to about $ 18.1 billion.

COFCO website previously published news show, on June 2 this year, Vice President of COFCO in Fu Lu June goal happily the buildings meet Mitsubishi's Executive Director, industrial Director of three living in China and Thailand, both sides exchange on deepening cooperative business undertakings.

COFCO said yesterday, now also in further consultations on cooperation matters, cannot yet disclose the details of the subscription price.

"Although the scale of China's meat and processed food industry is very large, scattered of small and medium-sized producers occupy a majority share of the market. The important purpose of this collaboration is to learn Japan meat industry advanced technology and management experience, meat supply safe products and processed foods. "Grain, said Mitsubishi as COFCO strategic partners, in terms of culture, feed in Japan to none, while Ito ham and Yonehisa in meat products processing industry has a wealth of experience and advanced research and development of technological capabilities.

according to sozu Chief Guo Huiyong, an analyst at network introduction, including double sinks, yurun, Golden Gong and other domestic large meat companies have strong capital figure of international capital. In addition, the meat industry in China is in an upgraded integration stage, the domestic pig slaughtering industry consolidation accelerated, making large meat processing enterprises have greater space for development. According to the requirements of the Department of Commerce, to the end of 2013, 30%, pig slaughtering enterprises in China to eliminate backward production capacity.

original address: http://finance.qq.com/a/20110624/001155.htm