The company has signed the merger agreement to transfer 100% equity interest of Shangzhi Yulong. The acquisition is expected to increase fresh milk production capacity by 30,000 tonnes per year to 110,000 tonnes, an increase of 38%, and generate $13m in revenue and $5m in net income for the 2012 fiscal year.
Shangzhi Yulong, located in Harbin, Heilongjiang, Northeast of China, is a livestock company with technologies that engage in the breeding of cows and sale of milk.
Currently, Shangzhi Yulong has more than 4,000 cows in inventory with annual production capacity of 30,000 tonnes of raw milk.
Source: CMCI
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