Shuanghui International Enters Into Strategic Cooperation Framework Agreement with Bank of China
HONG KONG, Nov. 27, 2013 /PRNewswire/ -- Shuanghui International Holdings Limited ("Shuanghui International"), a global leader in animal protein and the world's largest pork producer, announced today that it has entered into a US$8 billion (RMB50 billion) non-binding strategic cooperation framework agreement with Bank of China. Shuanghui International and its subsidiaries would have the flexibility to utilize the proposed services and new funding arrangements to invest in operations, fixed assets, international trade initiatives, potential mergers and acquisitions, and other corporate purposes.
"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 Shuanghui International Chairman and Chief Executive Officer Wan Long.
About Shuanghui International
Shuanghui International is 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. Smithfield Foods is the world's largest pork processor and hog producer. Henan Shuanghui Investment & Development is China's largest meat processor and is publicly listed on the Shenzhen Stock Exchange under the ticker symbol 000895. More information about Shuanghui International is available at www.shuanghui-international.com.
This communication contains "forward-looking" statements within the meaning of the U.S. federal securities laws. The forward-looking statements include statements concerning Shuanghui International's outlook for the future, as well as other statements of beliefs, future plans and strategies or anticipated events, and similar expressions concerning matters that are not historical facts. Shuanghui International's forward-looking information and statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, the statements. These risks and uncertainties include risks associated with Shuanghui International's indebtedness. Readers are cautioned not to place undue reliance on forward-looking statements because actual results may differ materially from those expressed in, or implied by, the statements. Any forward-looking statement that Shuanghui International makes speaks only as of the date of such statement, and Shuanghui International undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Shuanghui International Holdings Limited