AGRANA and YNA to divide joint ventures for apple juice concentrate in China
Ad-Hoc Date: 02.02.2011The sugar, starch and fruit company AGRANA has announced plans to divide its existing joint ventures with the Chinese apple juice concentrate producer Yantai North Andre Juice Co. Ltd. (Yantai). Through two 50:50 joint ventures, these two companies currently operate an apple juice concentrate plant in Xianyang, Shaanxi province, and another production site in Yongji, Shanxi province.
It is the declared intention of AGRANA to assume full ownership of the plant in Xianyang and to sell its stake in the Yongji production facilities to Yantai in return.
AGRANA and Yantai have been turning approximately 250,000 tonnes of apples into apple juice concentrate every year at both sites, employing around 250 workers. In future, AGRANA plans to operate the Xianyang plant with around 160 employees and with the capacity to process up to 180,000 tonnes.