AgFeed Industries (FEED) produces and sells fodder and blended feed for use in the domestic animal husbandry markets in China. The company also raises hogs for China’s pork industry and manufactures premixed poultry food products. AgFeed has production facilities in Shanghai, Nanchang and Nanning, and over 20 hog farms in southern China. AgFeed has been acquisitive to add to its bottom line and gain market share, making several acquisitions earlier this year in China. China, the world’s largest country by population, is also one of the largest pork markets in the world.
On Monday, the company announced a $10-million share repurchase program, which will be funded with available cash on hand. AgFeed has $31.3 million in cash on hand. The company also said it expects to earn $1.10 a share for fiscal 2008, which is 10 cents above the average analyst estimate. Three Wall Street analysts track the company and
...
Tags for this Post:Agfeed Industries Inc.,
cents,
China,
Maxim Group,
Nanchang,
Nanning,
premixed poultry food products,
shanghai,
Small & Micro Cap,
U.S. Securities and Exchange Commission,
USD,
wall street