March 26, 2009

Yasheng Group seeking stock exchange listing

Agricultural holding company Yasheng Group reported a $76 million profit for 2008 as part of its goal to be listed on a major U.S. stock exchange, according to a report in the San Francisco Business Times. Yasheng Group is a Redwood City holding company focused on agriculture in China. It has about 15,000 workers. It owns seven agricultural businesses in China that grow products such as onions, potatoes, apples, alfalfa, flax, beets, wheat, apricots, sunflowers, beer barley and cumin. As part of its move towards a major stockmarket listing, Yasheng published its financial results for 2006 and 2007 in January.
According to the San Francisco Business Times,Yasheng started out in the late 1980s as GanSu Yasheng Salt Group Co., an agriculture, biotechnology and chemicals conglomerate. The group has been reorganizing itself, and this movement into the United States is part of that process. Back in China, Yasheng has switched from smaller family farms to “large scale industrial farming” and is doing research into “high breed strains” of various crops. It runs several schools for “training of potential employees” in the region.  Yasheng’s operations are concentrated in GanSu Province, a part of Northwest China adjacent to Mongolia and the vast province of Xinjiang.

Seeking a listing on a U.S. stock exchange, Yasheng merged in 2004 with Nicholas Investment Co. of Temecula and took over that business’ regulatory reporting.<

Filed under Agriculture and Food, China, Mergers and Acquisitions by

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