Shuanghui International reaches agreement with Bank of China
by Bryan Salvage
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HONG KONG – Shuanghui International Holdings, a Hong Kong-based. privately held company that owns a variety of food and logistics enterprises, including Smithfield Foods Inc. and Henan Shuanghui Investment & Development Co. Ltd., China's largest meat processor, has entered into a $8 billion, non-binding strategic cooperation framework agreement with Bank of China. Under this agreement, Shuanghui International and its subsidiaries will have the flexibility to use the proposed services and new funding arrangements to invest in operations, fixed assets, international trade initiatives, potential mergers and acquisitions,and other corporate purposes.
"[The] Bank of China has been an essential, long-standing partner throughout our growth, and we are deeply grateful for their strong and sustained support as we continue to explore ways to profitably expand our business worldwide," said Wan Long, Shuanghui International chairman and chief executive officer.