CNEI re-ups in Chinese prawn producer
China New Enterprise Investment (CNEI) has made a follow-on investment of $6.5 million in Zhanjiang Newpro Foods, a leading integrated operator in China’s prawn farming industry.
CNEI previously committed $9.7 million to the company in 2013. Based in Guangdong province, Newpro's operations span the breeding, culturing, farming and processing of prawns. It sells larvae and baby prawns to cultivators and farmers in China and processed prawn products to distributors and wholesalers in both export and domestic markets.
Newpro started commercialization and mass production of its own hybrid breed at a new culturing base in Hainan province in 2012. The company is said to be unique in that it has developed hybrid shrimp breeds with lower mortality rates.
When CNEI made its original investment, the PE firm said it was in the process of introducing Newpro to international experts with a view to helping the company breed pathogen-free shrimps.
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