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· Brazil meatpacker Minerva to create China joint venture
· Minerva enters into joint venture to grow Chinese presence
Brazil meatpacker Minerva to create China joint venture
Reporting by Alberto Alerigi; writing by Jake Spring; editing by Richard Pullin, Reuters
October 1, 2019
SAO PAULO, Oct 1 (Reuters) - Brazilian meatpacker Minerva SA said on Tuesday it has signed a memorandum of understanding to form a joint venture to explore business opportunities involving beef in China.
Minerva said in an exchange filing it signed the agreement with two “Chinese representatives” named Xuefang Chen and Wenbo Ge, who will be partners in the joint venture, without giving more details on the two people’s identities.
Chen and Ge are meat distributors in China and are already customers of the meatpacker, a source familiar with the matter told Reuters.
Minerva did not...
Minerva enters into joint venture to grow Chinese presence
By Aidan Fortune, GlobalMeatNews
South American beef processor Minerva has entered into a joint venture to “explore opportunities in the Chinese market”.
It has entered into a Memorandum of Understanding with the Chinese representatives Xuefang Chen and Wenbo Ge to explore commercial opportunities in the Chinese market, particularly on the imports and distribution of beef. It said that the purpose of the Memorandum is to set up a joint venture, in which Minerva, Athena Foods or any other subsidiaries, shall be partners.
The statement said: “With the establishment of this JV, in partnership with Chinese representatives, the Company aims to maximize its distribution channels in China, enabling new business opportunities, and to meet the growing demand for beef protein in China, which today accounts for approximately 15% of all global beef consumption.”
In September, the Chinese Ministry of Agriculture and Rural Affairs, approved 25 Brazilian meat processing plants for export, 17 of which were beef facilities, two of which are owned by Minerva.
The Minerva sites are based in...
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