Friday, August 3, 2018

Chinese company acquiring Fauji Foods was embroiled in milk contamination scandal: Pakistan Today...

Chinese company acquiring Fauji Foods was embroiled in milk contamination scandal: Report

LAHORE: China’s largest dairy company Inner Mongolia Yili Industrial Group Co which has expressed an interest in acquiring Fauji Foods was embroiled in a contamination scandal a decade ago.

A report published by South China Morning Post said the Chinese dairy behemoth was involved in a contamination scandal ten years ago when its domestic brand Sanlu’s milk powder was found to include melamine.

According to the report, melamine, when added to milk, can raise protein levels and it contributed to several infant deaths in case of the Chinese dairy giant’s domestic milk powder Sanlu.

On Monday, Inner Mongolia Yili Industrial Group Co submitted an investment intention letter to acquire a 51 percent majority stake in Fauji Foods.
 
Also, Fauji Foods Limited filed a notification on the Pakistan Stock Exchange (PSX) confirming Inner Mongolia Yili Industrial Group had expressed an interest in entering into negotiations with Fauji Fertilizer Bin Qasim Limited (FFBL) for the proposed acquisition of up to 51 percent of the voting shares and/or control in Fauji Foods Limited, from FFBL and other shareholders.

CitiBank has been appointed as the manager to the offer by Inner Mongolia Yili Industrial Group for this acquisition.

Inner Mongolia Yili Industrial Group setup its first overseas plant in New Zealand in 2014, said the report.

The Chinese dairy giant is working in tandem with Italian dairy titan Sterilgarda Alimenti and with European research and development centre in the Netherlands, the 1st such overseas facility for a Chinese dairy entity said the report.

Read more on source - Pakistan Today




SHARE THIS

Author:

Thanks for visitint our website. like our FB pages and subscribe to our daily upates..you can comment on the above peace bellow with your google id or facebook id. thanks

0 comments:

All Categories

Aaj Kamran Khan ke Saath Aamir Liaquat Hussain Aapas ki Bat NajamSethi Abdul Qadir Hassan AchiBaatain Afghanistan Aga Khan University Hospital AirLineJobs Allama Iqbal America Amjad Islam Amjad Anjum Niaz Ansar Abbasi APP Aqwal Zareen Articles Ayat-e-Qurani Ayaz Amir Balochistan Balochistan Jobs Bank of Khyber Banking Best Quotes Biwi Jokes Blogger Tips Chaltay Chaltay by Shaheen Sehbai China Chitral Coca-Cola Coke Studio Columns CookingVideos Corporate News Corruption Crimes Dr Danish ARY Sawal Yeh Hai Dubai E-Books EBM Education Educational Jobs Emirates English #Quotes English Columns EnglishJokes Funny Photos Funny Talk Shows Funny Videos Gilgit-Baltistan Girls Videos Govt Jobs HabibJalibPoetry Hamid Mir Haroon Al-Rashid Hasb-e-Haal with Sohail Ahmed Hassan Nisar Hassan Nisar Meray Mutabaq Hazrat Ali AS Sayings HBL Health HikayatShaikhSaadi Hospital_Jobs Hotel Jobs Huawei Hum Sab Umeed Say Hain India Information Technology Insurance International News Islam Islamabad Islamic Videos JammuKashmir Javed Chaudhry Jazz Jirga with Salim Safi Jobs Jobs Available Jobs in Karachi Jobs in KPK Jobs in Pak Army Jobs_Sindh JobsInIslamabad Jokes Jubilee Insurance Kal Tak with Javed Chaudhry Karachi Kashmir KhabarNaak On Geo News Khanum Memorial Cancer Hospital Khara Sach With Mubashir Lucman Khyber Pakhtunkhwa Lahore Latest MobilePhones Lenovo LG Life Changing Stories LifeStyle Live With Dr. Shahid Masood Live with Talat Hussain Maulana Tariq Jameel MCB Bank Microsoft Mobilink Mujeed ur Rahman Shami Munir Ahmed Baloch Nasir Kazmi Nazir Naji News News Videos NGO Nokia North Korea Nusrat Javed Off The Record (Kashif Abbasi) Off The Record With Kashif Abbasi On The Front Kamran Shahid OPPO Orya Maqbool Jan Pakistan Pakistan Army Pakistan Super League Pashto Song Photos Poetry Political Videos Press Release Prime Time with Rana Mubashir PTCL Punjab Quetta Quotes Rauf Klasra Samsung Sar-e-Aam By Iqrar-ul-Hasan Sardar Jokes Saudi Arabia ShiroShairi Show Biz Sikander Hameed Lodhi Sindh Social Media Sohail Warriach Songs Sports News Stories Syria Takrar Express News Talat Hussain Talk Shows Technology Telecommunication Telenor To the point with Shahzeb Khanzada Tonight with Moeed Pirzada Turkey Tweets of the day Ufone University Jobs Urdu Ghazals Urdu News Urdu Poetry UrduLateefay Video Songs Videos ViVO Wardat SamaaTV WaridTel Wasi Shah Zong اردو خبریں
______________ ☺ _____________ _______________ ♥ ____________________