Astika Acquires Nantong Poultry Company03 April 2014
CHINA - Astika Holdings, Inc. is set to enter poultry farming and the food sector, continuing its acquisition strategy in China.
Astika Holdings, Inc., a strategic acquisition company of service, agriculture and industrial companies from the Nantong Region in China and New Zealand, has announced that it is entering negotiations to acquire Nantong Poultry Farming Co. Ltd., in the food-service sector.
Nantong Poultry Farming Co. Ltd. is engaged in poultry breeding, farming, selling, disease control and technological support in the food-service sector in China.
Currently, the company’s factory maintains operations of 35,200 square metres (8.7 acres) with over 50,000 poultry of different species for sale in the food service sector.
Nantong Poultry Farming has received rewards for its technology and for 'One of the Best 50 Poultry Companies in China'. Recently, in order to increase volume and control costs, Nantong Poultry Farming subcontracted part of its poultry farming business to over 200 local retail poultry farmers. Using its social network to sell its pigeon eggs throughout Nantong and Shanghai in 2013, Nantong Poultry Farming reached sales of 300 million pigeon eggs and created over 50 new job positions.
Mark Richards, the director for Astika Holdings commented: “Nantong Poultry Farming Co. Ltd., is part of Astika’s ongoing strategy to add value through successful project development and opportunistic high growth sector acquisitions with efficient operations, while maintaining a low risk profile through project diversification, astute financial management and operations in secure jurisdictions."
In the five years through 2013, revenue for the poultry farming industry in China has been growing at an average annualised rate of 7.8 per cent to $75.8 billion, according to IBISWorld. Industry revenue has been growing steadily due to rises in poultry prices as well as output growth. Total poultry meat output is expected to increase 3.1 per cent to $20.5 million tons in 2013, while revenue is set to grow 8.4 per cent. Revenue in 2018 is forecast to reach $106.5 billion. China is also the largest egg producer in the world, accounting for over 40 per cent of global production. In the decade to 2018, industry value added is expected to grow at annualised rate of 8.4 per cent, similar to general economy growth. With consolidation and the emergence of larger poultry and egg farms, the number of farms in this industry is forecast to continue to decline over the next five years.
Astika Holdings, Inc. (OTCQB: ASKH) is focused on a variety of strategic acquisitions in service, agriculture and industrial companies to compliment and grow Astika Holdings, Inc.'s business. The Company is positioning to capture the next wave of growth companies from Asia. Astika Holdings is focused on the Nantong region of China and is positioning to negotiate with growth companies from the Nantong region. Nantong is known as a 'Pearl of the River and Sea', ideally situated near the mouth of the Yangtze River with a rich and diverse history dating back to the Chinese Han Dynasty. Inhabitants first lived in the region 5,000 years ago because of its abundant natural resources and access to the Yangtze River. Nantong has a national reputation of 'the First Window on the Yangtze River' and is one of the China's prized national tourist centers. As the centerpiece in the Yangtze Delta Economic Zone, Nantong has enjoyed rapid economic growth and increasing foreign investments. The city is listed on the China's Top 100 Counties (county-level cities) for its strong economy. Nantong is one of China's first fourteen coastal cities open to international trade. Nantong is poised for accelerated economic growth with new bridges over the Yangtze River connecting the Nantong region to the Shanghai metropolitan region. With the development of the Rudong Yangkou Harbor Nantong offers the only natural deep water harbor in central China's coast with access to China's largest markets. Nantong's rich history of economic prosperity and growth converge with national modernization continue to make Nantong a major centre for economic development in China. Astika Holdings intends to be a high-growth company focused on adding value through successful project development, efficient operations, and opportunistic acquisitions while maintaining a low risk profile through project diversification, astute financial management and operating in secure jurisdictions.ThePoultrySite News Desk