Calata partners with China's leading agribusiness firm
MANILA, Philippines - Listed agribusiness company Calata Corp. on Monday said it has teamed up with the New Hope Group (NHG), a leading feed producer in China.
In a disclosure to the stock exchange, Calata said it partnered with NHG "to aggressively pursue and promote agribusiness in the Philippines."
"The company’s partnership with NHG is expected to dramatically increase additional corporate revenue
streams in agribusiness and further increase the company’s continuing business growth. By virtue of its
ever aggressive business initiatives, in the coming years, the company envisions that it shall likewise be
the leader in the agribusiness sector in the Philippines," Calata said.
NHG is the leader in agribusiness enterprise in China, with annual sales of around $8.8 billion. It is one of the largest feed producers in China with annual production capacity of 26.6 million tons, as well as one of the largest suppliers of meat, egg and dairy products.
The Chinese company now has 8 overseas plants in Vietnam, Bangladesh, Philippines, Bengal, and Indonesia.