Chinese dairy group Beijing Sanyuan Foods Co Ltd announced yesterday (18 July) that it intends to establish a subsidiary in Shanghai while also investing in expanding its milk capacity.
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In a filing with the Shanghai Stock Exchange, the company said its board had approved a proposal to invest CNY680m (US$99.45m) in the development of a milk processing “park” in Beijing. The facility would increase Sanyuan’s milk processing capacity by 12m tonnes.
The group’s Shanghai subsidiary would have a registered capital of RMB3m, the company said. Sanyuan said the unit would enable it to increase its presence in eastern China.
