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Daesang signs to transfer lysine technology to Chengfu Group for $8.82 mn

2018.10.10 15:51:00

South Korea's Daesang said on Wednesday it has signed a contract to transfer its lysine technology to China's Chengfu Group for 10 billion won ($8.82 million).

Lysine is an amino acid used in the biosynthesis of proteins and widely applied in the animal feed industry. Daesang said the partnership will leverage on Chengfu Group's market positioning and manufacturing ability to expand its global reach. The two will expand alliance in other chemicals for animal feed beyond lysine.

The duo's lysine business is expected to grow from 500,000 tons to 700,000 tons. Daesang aims to achieve 2 trillion won in sales of lysine and other materials by 2022.

Chengfu Group, a Chinese amino acid manufacturer for animal feed, posted 220 billion won in sales last year. It produces 500,000 tons of lysine a year and recently added vitamin B2 as a feed additive to its product lineup.

Daesang expected its lysine business will grow from 160 billion won in 2015 to 240 billion won this year.

17.10.2018, 753 просмотра.