China Yingxia to Acquire Soybean Milk Production Lines From King
Posted on: Friday, 28 March 2008, 15:00 CDT
China Yingxia International, a company engaged in the development, manufacture and distribution of organic nutritional food products and personal care products, has announced that it is in the final stages of the acquisition of six soybean milk production lines from King International Food, a Sino-Australian joint venture.
The company has spent over $4 million to acquire production equipment, technical know-how, and marketing resources from King International Food (King). The company is now in the process of engaging a third party to provide an asset evaluation report to formally complete the purchase of the production lines. The company expects the transaction to be completed before the end of the second quarter of 2008.
Yingxia Jiao, chairperson of China Yingxia, said: "We expect to begin production by the end of the second quarter after the acquisition formally closes. This marks our first step toward becoming a major player in the soy milk business in China."
Source: Datamonitor
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