April 26, 2024

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[THE INVESTOR] Korean livestock and animal feed maker Harim Group, announced on Oct. 11 that its affiliate Farmsco has acquired key units in Indonesian stockbreeding firm Sujaya Group as a part of its plans to expand business in the country.

Under the deal with Sujaya, Farmsco bought a plant located in Java that has an annual animal feed production of 500,000 tons. The company has also acquired a farm that can breed 175,000 hatching eggs. 

Farmsco plans to inject around 60 billion won (US$52.75 million) in its Indonesian operations. By 2020, the Harim affiliate plans to produce 300,000 tons of animal feed and breed 400,000 hatching eggs.

Farmsco first jumped into the Indonesian animal feed business in 2010.

By Song Seung-hyun (ssh@heraldcorp.com)