Strategic Progress in India

RNS Number : 1311V

Genus PLC

28 October 2010

 



For Immediate Release                                                                       28 October 2010

GENUS plc

("Genus" or "the Company")

Strategic Progress in India

Genus, a leading global animal genetics company, is pleased to announce the establishment of local bull stud facilities in India through a joint co-operation agreement with Chitale Dairy.

This new agreement achieves a further step in the strategy for development of Genus' business in developing markets. It will enable Genus to build a market for locally selected genetics in India whilst still growing its existing small business in elite genetics supplied from Genus' studs from around the world.  

The joint co-operation agreement has an initial 5 year term. Chitale's existing bull stud will be improved and expanded using Genus' expertise.  Genus will add proprietary lines of breeding animals to raise the quality of the stud.

Genus has already established an office in India and currently sells imported Genus genetics to a small premium part of the Indian market.  

Richard Wood, Chief Executive of Genus said:

"This joint co-operation agreement will enable Genus to market a full range of custom design semen for the diverse Indian market.  Although India is one of the world's largest milk producing countries with over 60 million milking cows and 50 million milking buffalos, the country currently has limited genetic programmes for the improvement of India's dairy herd."

"Genus will use the local stud facilities to help Indian farmers to improve productivity, efficiency and quality in this rapidly expanding market." 

"We are delighted to be working with Chitale and see great long-term opportunities for growth in India."

For further information please contact:

Genus plc                                                             Tel: [phone]

Richard Wood, Chief Executive

John Worby, Finance Director

Buchanan Communications                                 Tel: [phone]

Charles Ryland

Suzanne Brocks

Helen Chan

This announcement is available on the Genus website, www.genusplc.com

About Genus

Genus plays a key role in the world's agricultural economy in its creation of advances in animal breeding through naturally applied biotechnology, helping farmers and food producers across the world to improve quality and increase output.

Genus provides superior natural animal genetics, enabling our global customers in the bovine and porcine supply chain to produce offspring in their herds with greater production efficiency, milk and meat output and quality. The challenge of meeting growing global demand for milk, pork and beef from the decreasing resources available for food production requires innovative solutions that Genus provides. 

Genus' worldwide sales are made in seventy countries under the trade marks "ABS" (dairy and beef cattle) and "PIC" (pigs) and comprise semen and breeding animals with superior genetics to those animals currently in production. 

Genus' competitive edge has been created from the ownership and control of proprietary lines of breeding animals and the biotechnology used to improve them. Genus' global production and distribution network underpins our unique position in the world's growing agricultural markets.

Headquartered in Basingstoke, England, Genus is a FTSE250 company that operates in 30 countries on six continents, with research laboratories located in Madison, Wisconsin, USA.

About Chitale

Chitale Dairy was founded in 1939 and produces approximately 1.2 billion litres of milk each year. It is based in the state of Maharashtra and owns the only private local breeding programme in India.

 

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