August 26, 2008
Sumitomo to Start Wheat Flour Biz in China
Tokyo, Aug. 25 (Jiji Press)--Japanese trading house Sumitomo Corp. said Monday it will start wheat flour milling business in China, jointly with Prima Ltd., a Singapore flour milling company.
The two companies will set up a fifty-fifty investment firm, Baiyou Investments Pte. Ltd., in Singapore, to acquire a 46.73 pct stake in Qingdao Xinghua Cereal Oil & Foodstuff Co., a flour milling firm in Shandong Province, China.
Sumitomo will supply Qingdao Xinghua with Australian-made flour.END
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