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Sumitomo Corp said Tuesday it will start wheat flour milling business in China, jointly with Prima Ltd, a Singapore flour milling company.
The two companies will set up a 50-50 investment firm, Baiyou Investments Pte Ltd, in Singapore, to acquire a 46.73% stake in Qingdao Xinghua Cereal Oil & Foodstuff Co, a flour milling firm in Shandong Province, China.
Sumitomo will supply Qingdao Xinghua with Australian-made flour.
© JCN
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The_Marion
China is the only place on earth that could raise Salba Seed (Grain) and I suppose the Chinese have good sources of both wheat and rice and I also suppose that can mill both of the grains into flour. Salba Seed would give the Chinese people the must nutritious grain foud anywhere on this planet. For those who don't understand , I suggest you Google the words "Salba Seed."
tripank
I suggest you look up Sumitiomo Failed in banking in the US and in Japan so why not move into food business. See for what it really is a Big company just trying to make money. Look at Kirin in Australia and PH.. Big Corp. food industry in Asia is coming of age and players are positioning