Feihe International Inc., a top manufacturer of infant formula in China, is building a manufacturing plant valued 300 million Canadian dollars (234 million U.S. dollars) in Kingston, Canada. Leng Youbin, Chairman of Feihe International Inc. told Xinhua on Tuesday [8 August 2017] in Ottawa that Feihe board decided to invest to set up the plant in Kington city in Ontario province “because of better natural and cultural environments.”…Full Article: ECNS.cn Aug 2017
- In June 2017, construction began on Feihe’s infant formula factory in Cataraqui Estates Business Park in Kingston. The new factory, set to be completed in 2019, will include a wet infant formula and goat milk infant formula production line (total 60,000 MTs annual capacity). Approximately 80% of its output will be exported to China while the remaining 20% will sold in North America.
- In December 2016, Feihe International and Ontario’s Kingston City Hall signed an agreement to construct an infant formula factory (incorporated with Canada Royal Milk).
- In May 2017, Feihei announced plans to put forth an IPO on the Hong Kong Stock Exchange.
- In 2016, Feihe Dairy sales totaled CNY 6.8 million yuan (USD 980 million).
- In August 2015, the D20 Summit was held in Beijing. The summit included business leaders representing China’s top 20 dairy firms and resulted in the signed of the ‘Beijing Declaration’, an agreement to strengthen self-regulation and revitalize the dairy industry. Feihe International was one of the 20 dairy firms that participated in the summit.
- In May 2015, the China Food and Drug Administration (CFDA) published its “2014 infant formula milk powder inspection report”, noting that Feihe International had quality issues with some of its milk powder products.
- In 2013, Feihe International (NYSE:ADY) was delisted from the New York Stock Exchange.
- Founded in 1962 and headquartered in Beijing, Feihe International is a producer and distributor of infant formula milk powder.
Hong Kong Trends