Tate & Lyle PLC has signed an agreement with Xuzhou Yitong Food Industry Co. Ltd. to form a sino-foreign joint venture.
July 17/Chicago/Press Release -- Tate & Lyle PLC has signed an agreement with Xuzhou Yitong Food Industry Co. Ltd. to form a sino-foreign joint venture through the acquisition of a 51% equity interest in Jiangsu Howbetter Food Co. Ltd., a food systems business in China. Howbetter provides stabilizer systems and ingredient blends for customers across China, mainly those in the dairy and beverage categories.
Howbetter operates a blending facility in Suqian, China, and has application laboratories in the nearby city of Xuzhou. The business received a license to operate under new Chinese regulations put in place in 2010.