Languiru and a Chinese company announce a memorandum of understanding

Cooperativa Languiru and the Chinese company ITG announced on the 22nd of  March the signature of a protocol of intentions to format a partnership. The objective, through a joint venture, is to buy shares in the production segments: poultry, pork, beef cuts and feed processing. This proposal must be approved by the members at the general meeting.

After signing, the Chinese company will have shares in the poultry unit in Westfalia, the pork unit in Poço das Antas, the beef unit in Teutônia, and the animal feed factory in Estrela. The ITG director said that after an investigation and an investment plan, the Chinese state-owned company will define the percentage of shares to be acquired, whether to become a minority or majority shareholder.

ITG is a company with a complete line, looking for suppliers of natural products, such as meat. It is governmental and is ranked 106th in the “Fortune Global 500” worldwide.

(Source: Folha Popular)