Tyson Foods plans JV with China chicken producer
Is reportedly in the final stage of talks with the fourth-biggest producer of chicken in China, Fujian Sunner Group, over a proposed US$150 million joint venture between the two.
30/06/05 Tyson Foods is reportedly in the final stage of talks with the fourth-biggest producer of chicken in China, Fujian Sunner Group, over a proposed US$150 million joint venture between the two. Tyson is expected to hold 51 percent and Sunner with 49 percent.
The chairman for the joint venture will be appointed by Tyson, while Sunner chairman Fu Guangming would serve as chief executive.
Under Tyson's plan, the joint venture would produce 120 million chickens a year by 2010, four times the current processing capacity of Sunner. The Chinese side has not accepted Tyson's proposed ownership stakes.
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