NEW YORK, June 15 /PRNewswire-Asia/ -- AgFeed Industries, Inc. (Nasdaq: FEED, NYSE Alternext: ALHOG), one of the largest independent hog production and animal nutrient companies in China, today announced an agreement on terms for the stocking of the first phase of the Xinyu production pod starting in the fourth quarter of 2010 with PIC (Pig Improvement Company), a division of Genus PLC (LSE: GNS). This stocking will include 16,800 high health-breeding females and the Grand Parent stock to create a closed herd multiplication ("CHM") system. The CHM system is the best system available in China for maintaining high health production units.
AgFeed's production pod development in Xinyu, as previously announced, is being pursued in partnership with local government as part of the strategy of AgFeed, Government & Farmer. Phase one of this development includes three 5,000 head sow farms and a boar stud to support future growth. Phase two of the Xinyu production pod will add two more 5,000 head sow farms bringing the Xinyu total to 25,000, capable of producing over 550,000 market hogs annually.
Gerry Daignault, CEO of AgFeed's Hog Division, commented that; "This relationship will allow AgFeed access to PIC's world-renowned base of genetic material and expertise in sufficient quantity to allow us to meet our growth targets. It represents another step forward in assuring that we will reach our goal of 2,000,000 market hogs by 2015. The relationship also shows the support of AgFeed's strategy by industry leaders."
Genus is a world leader in applying science to animal breeding. Genus creates advances in animal breeding through biotechnology and sells added val
|SOURCE AgFeed Industries, Inc.|
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