24 Jun 2010 --- EUROGERM, the French leading supplier of ingredients and processing aids at the heart of the wheat-flour-bread industry has signed an alliance agreement with NISSHIN SEIFUN, the leading flour milling group in Japan and specialists on the markets of East Asia.

This alliance is in keeping with EUROGERM’s international growth strategy; a strategy targeted at sealing high added-value alliances and establishing new subsidiaries in high potential areas such as Asia, which has one of the strongest rates of growth in the world in the wheat-flour-bread products sector.

Through their alliance, EUROGERM and NISSHIN SEIFUN will set up synergies to develop the know-how, technologies, production units and sales networks of both groups on the Asian flour milling and bakery markets.

The first practical step in setting up these synergies will be the creation of a 50/50 joint-venture between the two groups in China. This joint company will be underpinned by the historical presence of NISSHIN SEIFUN in the country, and enjoy the benefit of its knowledge of the Chinese market and modern infrastructures, which include a laboratory and test baking center based in Shanghai.

The agreement also includes an exclusive license agreement covering the import, production and distribution of EUROGERM products and services in Japan, China and Thailand, and the statement of a general principle of agreement on technical and business collaboration in ASEAN countries (particularly Vietnam, Indonesia, Malaysia, the Philippines and Singapore).

In order to strengthen the ties between the two groups and establish a sound partnership base, NISSHIN SEIFUN is to purchase roughly 15% of shares in EUROGERM. Jean-Philippe Girard, CEO of EUROGERM, keeps a majority stake in EUROGERM.

Benoît Huvet, Managing Director, and Jean-Philippe Girard, CEO of EUROGERM conclude: “This alliance rewards the efforts and outstanding work achieved over a number of years by Serge Momus, EUROGERM’s Export Director, and his team. This agreement also marks the beginning of a new stage in EUROGERM’s international development. We are delighted to be joining up with a player like NISSHIN SEIFUN, one of the world’s leading flour milling groups, and capitalizing on our combined skills and expertise to grow on the flour and bakery market in Asia. This opportunity to move into the Asian market will also help us to increase our expertise and knowledge of global technologies and specialties, which in turn will drive innovation and creativity for the benefit of our customers”.