CHINA CONSOLIDATES INFANT FORMULA MAKERS
June 8th, 2014
China’s state council has launched a detailed policy plan to push consolidation within the Chinese infant formula manufacturing sector. This builds on a broader goal to build larger companies in the sector set by the ministry of industry and information technology (MIIT) last October (2013). According to the new plan, by the end of 2015 the government would promote mergers and acquisitions creating 10 formula companies whose annual sales exceed Chinese Yuan Renminbi CNY2 billion (USD320.9 million). It also foresees further consolidation creating three to five ...
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