Dabeinong Technology to invest millions for expansion
Beijing Dabeinong Technology Group, a Chinese producer of animal feed and seeds, announced it will spend CNY 618 million (?79 million) on a nationwide capacity expansion program. The main reason driving this expansion is high demand exceeding the company's ability to supply. According to the company, it will acquire and expand animal feed production lines in five cities for CNY 318 million (?37.5m), and then invest another CNY 300 million (?35.5m) for the construction of a bio-pharmaceutical industry base at its wholly-owned subsidiary, Beijing Zhongke Mufeng Bio-Technology.
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