Agco has entered into a joint venture agreement with CP Group for the manufacture of protein production equipment. CP Group, based in Bangkok, Thailand, is a leading producer of swine, chicken and eggs in Asia.
Agco and CP Group will each own 50% of a manufacturing joint venture, which will produce protein production solutions for Agco’s GSI division and CPG companies. Manufacturing is expected to begin in early 2019 in a plant to be constructed in CiXi City, ZheJiang Province, China.
“Our new manufacturing joint venture with CP Group will greatly expand GSI’s Asian production capabilities and allow us to provide technologically advanced solutions for CPG and other producers in China. The joint venture will support CP Group's planned expansion in Asia while enabling AGCO to better serve other animal protein producers in the region,” said Martin Richenhagen, AGCO’s Chairman, President and CEO.