Sino-French JV to breed better pigs

France-based Choice Genetics SAS, a leading global swine genetics and breeding company, will set up a subsidiary in China.

Choice Genetics China will be the group's eighth overseas branch. It already has branches in Europe, the Americas and Asia. "Progress toward opening the subsidiary is going smoothly," said Fu Yan, vice-president of Ningbo Tech-Bank Co Ltd, an agro-processing company.

Ningbo Tech-Bank, which is listed in Shenzhen, acquired a 40.69 percent stake in Choice Genetics from the latter's parent company - Groupe Grimaud - for $15 million in August. The deal, carried out through Ningbo Tech-Bank's wholly owned subsidiary Hanswine Swine Industry Ltd, makes Ningbo Tech-Bank the second-largest shareholder in Choice Genetics.