On October 9, 2014, Ningbo Tech-Bank (NTB) through its subsidiary Hanswine concluded their partnership in pig genetics through the implementation of a substantial capital increase in Choice Genetics SAS, making Hanswine a strategic shareholder in the global pig genetics company, of which Groupe Grimaud remains the majority shareholder.
The alliance with NTB will accelerate international growth, more particularly in China through the establishment of a fully owned subsidiary in the course of 2015. The investment creating Choice Genetics China will encompass an R&D center and a sales and marketing team.
NTB and Choice Genetics have been working together since August 2013, when it imported GGP breeding stock from the USA into the Anhui province (China) in order to populate a new state-of-the-art 1,500 sow farm, which will feed the multiplication pyramid consisting of 6,000 GGP/GP sows. Several additional PS multiplication farms are available downstream and are being prepared for system flexibility or potential rapid expansion.
NTB is an agro-industrial group based in Ningbo, China and listed on the Shenzhen Stock Exchange in the PRC.
The group is engaged in the research and development, manufacture and sale of animal feed ingredients and health care products in China and internationally. In December 2013, NTB purchased the outstanding capital stock of AgFeed Industries Inc, the holding company of AgFeed’s Chinese subsidiaries. AgFeed China was one of China’s largest commercial hog producers, with a current capacity of about 26,000 sows.
We are very pleased and excited with the global pig genetics partnership between Groupe Grimaud and NTB. Both companies share the same vision that continued investment in technology and innovation will drive the animal genetics business. China is a massive market with big potential. The creation of Choice Genetics China fits perfectly with Choice Genetics’ strategy and completes its global organization nicely.
Pig breeding in China has been described as an ‘import – degenerate – reimport’ cycle. NTB was looking for a solution to change this kind of breeding practice. NTB contacted pig breeding companies worldwide to seek a partner who could satisfy Chinese market requirements. We – as a team – are very proud we have been selected by NTB as the ideal partner.
Throughout the cooperation with NTB since 2013, we have been impressed with the professionalism and efficiency of the NTB team. The conclusion of this global partnership is a natural step after a very satisfying business relationship. The whole Choice Genetics team is looking forward to exciting new projects in the future, especially in the Chinese market, thanks to this new partnership.