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DSM signs JV agreement in China
14 June 2011: DSM has signed a JV agreement with a Chinese biotechnology company that will give the Dutch ingredients supplier its first enzyme manufacturing plant in China.
The agreement between DSM and Yixing QianCheng Bio-Engineering will result in the creation of a new company. Employing around 70 people and consisting of a manufacturing plant, lab facilities and a warehouse, the new joint venture will produce enzymes for brewing, bakery and other food products in China.
Under the terms of the agreement, DSM is the majority shareholder with 85 per cent of the shares while Yixing QianCheng Bio-Engineering will hold on to the remaining 15 per cent.
Source: Foodnavigator