LEONG HUP ACQUIRES FEEDMILL IN VIETNAM FOR RM67 MLN

AZIZUL AHMAD

KUALA LUMPUR, March 9 (Bernama) --  Poultry giant Leong Hup International Bhd (LHI) has acquired an aquatic feedmill in Vietnam, including its plant, equipment, machinery and motor vehicles, for a total consideration of RM67.03 million.

Strategically located within the thriving Mekong delta region, the acquisition represents the regional integrated poultry operator’s diversification into the aquatic feed market in Vietnam.

In a statement today, LHI said the asset, which currently produces only aquatic feed, had the capacity to produce up to 118,800 metric tonnes of aquatic feed per annum.

“The group has plans to enhance the asset’s capacity and begin poultry feed production by the end of 2020,” the company said. 

Executive director and group chief executive officer, Tan Sri Lau Tuang Nguang, described Vietnam as one of the group’s burgeoning markets in the Southeast Asia.

"This acquisition presents us with an opportunity to introduce feed products to capture more pockets of the region’s rising protein consumption and enables the group to strengthen our market position in Vietnam, particularly around the southern region," he said.

LHI and its subsidiaries in Vietnam produce a wide range of feed products, including those for parent stock chickens, broiler chickens, layer chickens, colour birds, ducks, cattle, goats, swine and quail. 

-- BERNAMA

 

TAGS: Leong Hup, LHI, Poultry, Feedmill, Vietnam, Aquaculture