Sanyuan Group
Encyclopedia
Sanyuan Group is a state-owned group of companies based on agriculture
and animal husbandry
in China. It consists of 12 state farms, 20 professional companies, 41 transnational joint ventures, 3 overseas subsidiaries and 1 public company as Beijing Sanyuan Foods, which is listed in Shanghai Stock Exchange
.
was quoted as saying Sanyuan Foods was chosen by Beijing Olympic Committee at the last minute as the sole supplier of milk and dairy products for both the 2008 Summer Olympics
and the 2008 Summer Paralympics
. The original supplier of dairy products to the 2008 Beijing Olympic was Yili Group, but Yili was dropped when its products failed quality tests. After Sanyuan Foods' products were cleared in the nationwide test for melamine
, its share price surged 10 percent, a jump of 52% in 5 days.
Independent media have reported that during the 2008 Beijing Olympics and the 2008 Beijing Paralympics, the "State Council Special Food Supply Center" was the only food supplier chosen by the Beijing Olympic Committee when all other national suppliers failed the stringent tests.
"All the food supply, including dairy, for the Olympics and Paralympics were safe," Li Changjiang
, former head of AQSIQ told a press conference. "We took special quality management measures aimed at food supply for the Games."
On 26, September 2008 Beijing Sanyuan Foods Co Ltd (SHA 600429) said its shares will be suspended from today pending an announcement related to a possible acquisition
. Beijing Sanyuan is the only listed diary producer that has avoided being associated with China's milk contamination scandal.
The official China Securities Journal
cited market sources as saying that Sanyuan, a second-tier company, may acquire Sanlu Group
, the dairy at the center of the contamination scandal, taking the opportunity to become one of the top brands.
Agriculture
Agriculture is the cultivation of animals, plants, fungi and other life forms for food, fiber, and other products used to sustain life. Agriculture was the key implement in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that nurtured the...
and animal husbandry
Animal husbandry
Animal husbandry is the agricultural practice of breeding and raising livestock.- History :Animal husbandry has been practiced for thousands of years, since the first domestication of animals....
in China. It consists of 12 state farms, 20 professional companies, 41 transnational joint ventures, 3 overseas subsidiaries and 1 public company as Beijing Sanyuan Foods, which is listed in Shanghai Stock Exchange
Shanghai Stock Exchange
The Shanghai Stock Exchange , abbreviated as 上证所/上證所 or 上交所, is a stock exchange that is based in the city of Shanghai, China. It is one of the two stock exchanges operating independently in the People's Republic of China, the other is the Shenzhen Stock Exchange...
.
Sanyuan Foods
Phoenix TelevisionPhoenix Television
Phoenix Satellite Television Holdings Ltd or Phoenix Television is a Hong Kong-based Mandarin Chinese and Cantonese television broadcaster that serves the Chinese mainland and Hong Kong along with other markets with substantial Chinese viewers...
was quoted as saying Sanyuan Foods was chosen by Beijing Olympic Committee at the last minute as the sole supplier of milk and dairy products for both the 2008 Summer Olympics
2008 Summer Olympics
The 2008 Summer Olympics, officially known as the Games of the XXIX Olympiad, was a major international multi-sport event that took place in Beijing, China, from August 8 to August 24, 2008. A total of 11,028 athletes from 204 National Olympic Committees competed in 28 sports and 302 events...
and the 2008 Summer Paralympics
2008 Summer Paralympics
The 2008 Summer Paralympic Games, the thirteenth Paralympics, took place in Beijing, China from September 6 to September 17, 2008. As with the 2008 Summer Olympics, equestrian events were held in Hong Kong and sailing events in Qingdao....
. The original supplier of dairy products to the 2008 Beijing Olympic was Yili Group, but Yili was dropped when its products failed quality tests. After Sanyuan Foods' products were cleared in the nationwide test for melamine
Melamine
Melamine is an organic base and a trimer of cyanamide, with a 1,3,5-triazine skeleton. Like cyanamide, it contains 66% nitrogen by mass and, if mixed with resins, has fire retardant properties due to its release of nitrogen gas when burned or charred, and has several other industrial uses....
, its share price surged 10 percent, a jump of 52% in 5 days.
Independent media have reported that during the 2008 Beijing Olympics and the 2008 Beijing Paralympics, the "State Council Special Food Supply Center" was the only food supplier chosen by the Beijing Olympic Committee when all other national suppliers failed the stringent tests.
"All the food supply, including dairy, for the Olympics and Paralympics were safe," Li Changjiang
Li Changjiang
Li Changjiang was minister and Communist Party of China party chief of the General Administration of Quality Supervision, Inspection and Quarantine of the People's Republic of China .- Biography :...
, former head of AQSIQ told a press conference. "We took special quality management measures aimed at food supply for the Games."
On 26, September 2008 Beijing Sanyuan Foods Co Ltd (SHA 600429) said its shares will be suspended from today pending an announcement related to a possible acquisition
Mergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
. Beijing Sanyuan is the only listed diary producer that has avoided being associated with China's milk contamination scandal.
The official China Securities Journal
China Securities Journal
The China Securities Journal is a national securities newspaper, sponsored by Xinhua News Agency. It is based in Beijing, and has two offices in Shanghai and Shenzhen...
cited market sources as saying that Sanyuan, a second-tier company, may acquire Sanlu Group
Sanlu Group
Sanlu Group was a state-owned Chinese dairy products company based in Shijiazhuang, the capital city of Hebei Province. It was one of the oldest and most popular brands of infant formula in China. New Zealand's Fonterra owned 43% of Sanlu....
, the dairy at the center of the contamination scandal, taking the opportunity to become one of the top brands.