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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