BioMar and Tongwei Form Fish Feed Joint Venture
The BioMar Group and China’s Tongwei Company have announced the formation of a joint venture agreement for the formation of a fish feed company in China to supply the country’s rapidly growing fish farming sector.
With the signing of the final contracts, the two companies are moving into the next phase of their partnership with the beginning of the construction of its first 100,000 ton, BioMar-Tongwei feed plant to be located in eastern China.
The partnership with Tongwei, one of the largest fish feed companies in the world, and the gaining of access to one of the largest markets in the world represents a significant advancement for BioMar, and a key step in the company’s strategic growth plan.
"We are happy that BioMar will soon be able to serve customers in one of the most important aquaculture markets in the world with high performance diets. And I am sure this step will lead to further expansion for BioMar in Southeast Asia," said BioMar chief executive, Carlos Diaz.
With its foundation in Denmark, a country that has some of the most stringent environmental regulations in the world, some of the highest food safety standards, and some of the most precise industry parameters, along with its solid standing in the salmon feed industry, Diaz feels that BioMar is particularly well positioned to serve the premium market in China in the coming years.