29 April 1998
Hope eyes up CP Groups feed business
CHINAS biggest private company, the Hope Group, has its sights set on the feed business of Thailands CP Group which owns 93 animal feed mills.
The Asian economic crisis has left the CP Group vulnerable but the company does not want to sell any of its core feed grain operations.
New Hope Group, the only listed vehicle in the Hope Group, plans to use yields from a successful stock market debut last month to update technology and expand production to compete more effectively with other groups.
Hope plans to buy about five more food mills in China this year and next, with the aim of expanding market share to about 10% in a few years.
- Financial Times 29/04/98 page 33