Asian Citrus To Buy Most Of Beihai BP For $261.5 Million

Chinese orange grower Asian Citrus Holdings Ltd. said it is buying nearly all of a Guangxi-based maker of tropical fruit juice concentrates for HK$2.04 billion (US$261.5 million), in its first foray into the juice concentrate business.

The orange grower said it will buy 92.94% of Beihai Perfuming Garden Juice Co., or Beihai BPG, from BPG Food & Beverages Holdings Ltd., a Cayman Islands-incorporated company.

BPG is the largest supplier of tropical fruit juice concentrates in China, according to Shanghai-based Lunar Capital.

"BPG's revenue and earnings have more than doubled between 2007 and 2010. The company is well positioned for growing Chinese domestic consumer demand and growth in the emerging Central and Western regions of China," said Derek Sulger, a partner at Lunar Capital.

Lunar Capital and other private equity co-investors own about 24% of BPG, while the founders and management of of the juice concentrates supplier own the rest.

Asian Citrus, which sells oranges to wholesalers and supermarket chains from two plantations in China and is developing a third, said Beihai BPG processes more than 10 types of tropical fruits, such as pineapples, passion fruit, lynches, and mangoes.

University of Califonia Experts for measures to sustain production of 'kinno'

Agriculture experts have revealed that the greening disease of citrus fruit has threatened survival of "kinno" in the main citrus producing countries and called for preventive measures to sustain production of the fruit.

Professor Mark S Hoddle, Resource Person University of California USA Riverside, said California and Punjab have similar climatic conditions for agricultural practices and this is an appropriate time to boost mutual co-operation in the field of collaborative research in order to build bridges for the betterment of mankind.

Professor Hoddle said that on his way back to USA, he would convey this soft and mild message to the scientific community for more collaborative and joint ventures in the field of agriculture and livestock with Pakistan, reported a web-site of agricultural news on Tuesday.

Another expert Dr Iqrar Ahmad Khan, Vice Chancellor, University of Agriculture Faisalabad (UAF) said citrus fruit is being cultivated in more than 100 countries of the world and it is the second highest horticulture crop after grapes. He highlighted that a disease-free citrus nursery project, in collaboration with US, is running at UAF under his supervision, saying it is the only way to ensure survival of "Kinno" which is under life threat due to the greening disease.

Dr Iqrar said UAF developed this virus free plants nursery in order to gradually replace infected plants of "Kinno" orchards and asked the scientists to redesign Integrated Pest Management (IPM) mechanisms to obtain organic fruits and vegetables. Concluding, he said "Kinno" is not only the most delicious and juicy fruit, but also a cheap source of vitamin supplement for common man in Pakistan.

Professor Dr Muhammad Ashfaq, Dean Faculty of Agriculture said plant protection mechanism needs to be revamped and it is the duty of entomologists to shift their focus from chemical controls to biological control. He said UAF has developed practicable and affordable rearing technique of farmer friendly biological agents in order to maintain the bio-diversity. Professor Dr Anjum Sohail, Chairman Department of Agri. Entomology hoped that by the visits of foreign scientists, they would be able to redesign plant protection strategies in accordance with the modern practices.


Source: beta.brecorder.com