Nutreco announced today that it has successfully completed the acquisition of 100% of the shares in Zhuhai Shihai Feed Co. Ltd. (Shihai), a reputable and profitable fish and shrimp feed company in China. The revenue in 2010 was EUR 65 million. This acquisition will provide Skretting, the Nutreco fish feed business, with a production base in China, the world's number 1 aquaculture feed market. The acquisition is fully in line with the strategy to capitalise on Nutreco's leading fish feed positions by expanding in new regions and into feed for other species. The acquisition was announced on 14 February 2011 and was subject to approval of the Chinese authorities. These have now granted their permission.
Shihai supplies a growing market and produced approximately 100,000 tonnes of fish and shrimp feed in 2010, a year in which it commissioned a new feed plant with a capacity of approximately 150,000 tonnes. The new plant is constructed and equipped to a high standard and is capable of operating to Skretting specifications. Shihai employs approximately 300 people. Skretting will continue growing the business, supplying fish feed for species such as shrimp, various marine fish species, tilapia, snakehead and catfish.
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Nutreco is a global leader in animal nutrition and fish feed. Our advanced feed solutions are at the origin of food for millions of consumers worldwide. Quality, innovation and sustainability are guiding principles, embedded in the Nutreco culture from research and raw material procurement to products and services for agriculture and aquaculture. Experience across 100 years brings Nutreco a rich heritage of knowledge and experience for building its future. Nutreco employs over 10,000 people in 30 countries, with sales in 80 countries. Nutreco is listed on the NYSE Euronext stock exchange in Amsterdam and with annual revenues of EUR 4.9 billion in 2010.
For more information:
Jurgen Pullens, Director Investor Relations and Corporate Communications, Nutreco
Telephone: +31 (0)33 422 6134