News in Brief
Korean and Chinese firms in lysine alliance
South Korea’s Daesang announced yesterday that it had signed a contract to transfer its lysine technology to China’s Chengfu Group for 10 billion won (US$8.82m), according to local media reports.
Daesang said the partnership would leverage Chengfu Group’s market positioning and manufacturing ability to expand its global reach.
The Korean company said the partners would also look to expand the alliance to include other chemicals for animal feed, beyond lysine.
Daesang expects the collaboration to grow its lysine business from 500,000 to 700,000 tons.
Chengfu Group, a feed amino acid manufacturer, reportedly recorded 220 billion won in sales last year. It reportedly recently added vitamin B2 as a feed additive to its portfolio.
