28th Sep 2015 07:01
LONDON (Alliance News) - Chinese marine foods and seafood processor Aquatic Foods Group PLC on Monday said it has secured a USD15.4 million one-year sales deal with Yihe International Corp.
Yihe, a seafood wholesaler and processor, which supplies premium seafood products to the US market, will take 11 separate seafood products from Aquatic over the course of the year contract. It marks a big step up in value from the previous deals between the two, under which Aquatic has delivered about CNY6.2 million in products a year. The new deal is worth CNY99.0 million.
"The board is pleased to sign this significant contract with Yihe. Whilst Aquatic Foods has experienced high growth within the local PRC market in recent years, the export market remains an important source of revenue for the group," said Aquatic Chief Executive Li Xianzhi.
By Sam Unsted; [email protected]; @SamUAtAlliance
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