Deyu Agriculture, a China-based producer of agricultural products, has formed a new subsidiary, Jinglong Agriculture Development, in order to extend its business coverage to Northeast China.
The 99% owned subsidiary currently focuses on the procurement, storage and sales of corn and grain, said the company.
Jinglong was incorporated in Jilin Province, one of the three provinces in Northeast China in October 2012, with a registered capital of about $3.2m. The provinces of Northeast China are some of the nation's top crop producing areas.
Deyu chief executive officer Jianming Hao said establishing Jinglong is a major step for the company in further developing its agriculture production chain.
"With its strategic location in Jilin Province, we expect that Jinglong will play a pivotal role in extending our business coverage to the whole Northeast Region of China," added Hao.
Deyu Agriculture, based in Shanxi province, China, produces, processes, markets and distributes organic and other agricultural products made from corn and grains. It has access to over 109,000 acres of farmland in Shanxi province for breeding, cultivating, processing, warehousing and distributing grain and corn products.
