COFCO Group to Implement Mixed-Ownership Reforms Including IPOs and ESOPs

Shares of three listed units of State-owned China National Cereals, Oils and Foodstuffs Corp rose sharply on Wednesday [22 February 2017], after the country’s biggest food supplier by volume announced further plans for mixed-ownership reform on Monday. COFCO Biochemical (Anhui) Co Ltd stocks reached their 10 percent daily limit in early trading hours, and settled

Thailand’s Charoen Pokphand Foods Acquires Jiangsu-based COFCO Meat (Suqian)

In its latest big buy, Charoen Pokphand Foods Plc (CPF), the SET-listed flagship of agribusiness giant Charoen Pokphand Group, has acquired Cofco Meat Suqian for 976 million baht [~US$27.4 million]. Through Chia Tai China Investment Co (CTCI), an indirect subsidiary of CPF in China, CPF will also take over the shareholder’s loans worth 2 billion

COFCO to Close Some Business Departments and Downsize Headquarters’ Staff in Wake of Chinatex Takeover

After taking control of competitor Chinatex Corp, the giant grain and oil processor and trader China National Cereals, Oils and Foodstuffs Corp (COFCO) announced on Monday [18 July 2016] it will close six departments at its headquarters and establish professional operating platforms to manage some of its businesses. The State-owned Assets Supervision and Administration Commission

Textile and Grains Company, Chinatex, to be Absorbed by COFCO

The State-owned Assets Supervision and Administration Commission on Friday [15 July 2016] announced the merger of China National Cereals, Oils and Foodstuffs Corp with Chinatex Corp, in the process of creating a bigger rival to compete with the so-called ABCD companies…Full Article: China.org.cn July 2016 Key Point COFCO, Chinatex, and China Grain Reserve Corporation (Sinograin)

China’s COFCO to Set Up Crop Trading Office in Winnipeg, Central Canada

China’s COFCO Agri will open a Canadian crop trading office in Winnipeg [Manitoba Province, central Canada] by the time farmers harvest their new crops, the state-owned agricultural trader said Tuesday [28 June 2016]…Full Article: Alberta Farmer Express June 2016 Key Point COFCO’s Winnipeg office will focus on canola (rapeseed), canola oil, canola meal, wheat, barley,