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The Central Chinese government has reported that OSI has agreed a deal to buy out and take full control of a joint venture poultry breeding and processing company that it runs in Henan province
The American company OSI has announced that it will pay RMB300mn, the equivalent of US$45mn, for the controlling share in the joint venture. The company has the capacity to process 120mn white-feather broilers per year. Therefore, it makes the facility one of the biggest in the Asia continent.
The announcement of the venture was made at a meeting where OSI president David McDonald and the vice-governor of Hene Zhao Jian Cai. President McDonald promised to buy control of the firm which runs under the Mandarin name, Xihua Da Yong Fuxi Animal Husbandry.
The joint venture was also formed with the local conglomerate Dooyoo Industrial Group. On OSI's English speaking website, the venture is named Xihua Da OSI Poultry Development Company. The company is located in Chengdong Industrial Park on Gongye Road, Xihua County, Zhoukou. Also located in the country is OSI Henan foods, wholly owned by OSI.