Shanxi coal firm enters meat business
By Liu Yiyu ( chinadaily.com.cn )
Updated: 2012-06-14
Shanxi Coking Coal Group is partnering with Shuanghui Group, China's largest meat processing company, to enter the meat processing industry as the company strives to diversify its business.
The agreement includes a butchering and meat processing unit that will generate?3 to?4 billion yuan ($474 million to $632 million) in revenue annually.
Shanxi Coking Coal is the largest coking coal company in China.
Coal companies in Shanxi are diversifying their business portfolio since the country started the coal industry consolidation in 2008. In 2011, the non-coal business contributed 59 percent to the revenues of the Shanxi coal companies.
Jincheng Anthracite Mining Group, Lu'An Group and Yangquan Coal Industry Group get 70 percent of its business from non-coal sectors.
liuyiyu@chinadaily.com.cn
