Chinese Shrimp Company, Allied Pacific Gets Boost from Mistui & Co.
Mitsui & Co. has invested about Y2.5 billion ($220 million) ($22 million) to acquire a 37% stake in Allied Pacific, a Chinese firm that farms and processes shrimp.
Consumers in Japan, the U.S. and Europe have become increasingly sensitive to food safety.
Perhaps Mistui saw a business opportunity.
If the company can secure a stable supply of shrimp for which traceability would not be a problem, then profitability follows.
Allied Pacific owns shrimp-farming and feed-production facilities:
1. on Hainan Island.
2. in the city of Zhanjiang
3. in Dalian.
Though registered in Hong Kong, Allied Pacific's headquarters are in Dalian.
The company exports some 13,000 tons of shrimp a year.
The Chinese firm will use the Mistsui investment to upgrade its farming
facilities and improve sanitation.
Trading house Mitsui plans to spend a total of roughly Y80 billion by fiscal 2010 to secure food resources.
Will you feel it safer to eat shrimp from China if Japan is involved?
from
Japanese Mitsu Buys 37% Stake in Chinese Shrimper


Hi,
You need to check your conversion of 2.5 billion yen to dollars in Mitsui/Allied Pacific report.
Bob Rosenberry
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