Wellhope's proportion of capital contribution will be 30 percent, and the remaining 70 percent will be provided by Nexus Feeds. The registered capital for the new joint venture is approximately CNY10 million (US$1.6 million).
Founded in April 1995 and based in Shenyang city Liaoning province, Wellhope Agri-Tech Joint Stock Co. Ltd. is the largest feed company in Northeast China. In addition to feed manufacturing, other divisions of the company consist of pharmaceuticals, animal farming and feed machinery and deep processing of agricultural products.
Wellhope said the joint venture will provide more favorable opportunities for the company and it is mutually beneficial for both companies in that they each have complementary strengths in the industry chain to clinch more projects in the future.
Nexus Feeds is a family enterprise in India. The company is a manufacturer of Premium Quality feeds with the technical collaboration with Hanaqua Tech Inc., Taiwan.