Angel Yeast Enters Comprehensive Health Industry with New Joint Venture Project
PR93368
YICHANG, China, Nov. 30, 2021 /PRNewswire=KYODO JBN/ --
Angel Yeast Co., Ltd ("Angel Yeast")(en.angelyeast.com
(https://en.angelyeast.com/)), a listed high-tech yeast company in China, has
announced that it has signed an agreement with two prominent biomedical
companies to establish a new joint venture, Hubei Magic Health Technology Co.,
Ltd. ("Magic Health"), focused on comprehensive health. The joint venture
agreement was signed with Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd., a
subsidiary of Huadong Medicine Co., Ltd. and Zhejiang Huida Biotech Co., Ltd.
(Huida Biotech).
Under the joint venture, Magic Health will promote the development, production
and sales for major health products ranging from nutritional and health food
raw materials to personal care ingredients based on microbial technologies in
the future. RMB 559 million will be invested in two phases into the
construction of production bases and facilities for the development of raw
materials for nutrition, health and personal care. These will include R&D
centers, production workshops, storage and power plant facilities, and
eco-friendly wastewater treatment facilities.
"COVID-19 has transformed global attitudes to health and spurred a greater
desire for improved wellbeing. In turn, the comprehensive health industry has
experienced a rapid pace of growth in recent years, which has ushered in
unprecedented opportunities and development prospects," said Tao Xiong,
Chairman of Angel Yeast.
"Angel Yeast is honored to enter the comprehensive health industry together
with Zhongmei Huadong Pharmaceutical and Huida Biotech. This is a breakthrough
in our industrial development, as well as being a milestone event for the
Group. By establishing a joint venture with two leading healthcare companies,
we will be able to fully harness the strengths of all parties in R&D,
technological innovation, manufacturing, and quality control to establish Magic
Health as the backbone of China's domestic health industry," said Xiong.
"We are proud to partner with Angel Yeast, a global industry leader with
experience and expertise in advanced microbial fermentation. This joint venture
will be Huadong Medicine's first platform for industrialization in the
pharmaceutical field. We are truly excited to work with Angel Yeast to explore
the blue ocean market of industrial microbes and innovate in the comprehensive
health industry. Huadong Medicine is committed to realizing our vision of an
industrialized, large-scale global industry microbial segment in the field of
microbiology," said Liang Lv, Chairman of Huadong Medicine.
Magic Health's business scope will include the production and distribution of
foodstuffs, health foods, infant formula, formula for special medical purposes,
feed additives, technology development, technical services, and more. The joint
venture has RMB 250 million in registered capital, of which Angel Group and
Huadong Medicine have each invested RMB 100 million, or 40 percent, and Huida
Biotech invested RMB 50 million, which represents 20 percent of total
investment.
Angel Yeast is a company engaged in the development and production of yeast and
yeast derivatives. It is the largest yeast company in Asia and the
third-largest globally, as well as being one of the world's largest supplier
of yeast extract.
About Angel Yeast
Founded in 1986, Angel Yeast Co., Ltd specializes in the production of yeast
and yeast derivatives. Its product range includes baker's yeast and
ingredients, Chinese dim sum and seasoning, savory yeast extract, human health,
animal nutrition, plant nutrition, distilled spirits and biofuels, microbial
nutrition, and enzymes.
Source: Angel Yeast
Image Attachments Links:
Link: http://asianetnews.net/view-attachment?attach-id=409321
Caption: Angel Yeast has signed an agreement with Hangzhou Zhongmei Huadong
Pharmaceutical and Zhejiang Huida Biotech to establish a new joint venture,
Hubei Magic Health Technology Co., Ltd., focusing on comprehensive health.
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