Aktieselskabet Schouw & Co.
BioMar signs memorandum of understanding for joint venture in China

Aktieselskabet Schouw & Co. 

17.04.2015 09:00

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Schouw & Co.'s wholly-owned subsidiary BioMar has signed a memorandum of
understanding to establish a joint venture with Chinese company Tongwei Co.
Ltd. Initially, the agreement will involve building a joint aqua feed factory
in China with an annual capacity of about 100,000 metric tons, which is
expected to begin operations in 2016. 

China is the world's largest aquaculture market, and Tongwei is the country's
leading feed producer. Tongwei Co. Ltd is listed on the Shanghai Stock
Exchange. In addition to aqua feed, its core business, the company also
produces feed for chicken and livestock. Tongwei manufactures feed for a wide
range of fish species, producing about 2.5 million metric tons in 2014. The
joint venture will complement Tongwei's current production, focusing on
high-end feed and utilising BioMar's expertise in optimising feed composition,
technology and farm management. 

BioMar expects to make an initial investment of about USD 10 million in the
joint venture, but the parties intend to review the potential for additional
production units in China and south-east Asia on a regular basis. 

The new agreement will not influence BioMar's revenue and earnings guidance for
2015. 

See also the attached press release.

Aktieselskabet Schouw & Co.

Jørn Ankær Thomsen, Chairman
Jens Bjerg Sørensen, President, tel. +45 86 11 22 22.
News Source: NASDAQ OMX



17.04.2015 The DGAP Distribution Services include Regulatory Announcements,
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Company:      Aktieselskabet Schouw & Co.
              
               
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