Spend 100 Million Euros To Buy Cotton Enterprises In Mali

"I have a very good project just signed!" this afternoon, chairman of Zhuji Yue Mei Group.

Xu Zhiming is a representative figure of Zhejiang businessmen's "going out".

In 2007, Yumei Group invested more than 5000 US dollars to establish the first textile industrial park outside Nigeria in China.

In 2010, Xu Zhiming was appointed as an overseas business representative of our province by the Provincial Department of Commerce. In the same year, he bought a textile company in Garner.

The acquisition is a deliberate move by Xu Zhiming.

He said that as early as 2009, he began to buy cotton enterprises in major cotton producing countries in Africa.

Because he judged that due to the shortage of land, the rising cost of labor and the continuous expansion of textile production capacity, the shortage of domestic cotton would become a norm, as the cotton price rising in 2010 will appear again in the future.

Finally, Mali Cotton Corp was chosen as the goal of mergers and acquisitions, and Xu Zhiming was very self satisfied.

He said that the company is a state-owned company, and is also the most important cotton production and acquisition enterprise in Mali. It has millions of acres of cultivation area in Mali and has 17 cotton processing plants. Once the acquisition is completed, sixty thousand or seventy thousand Malian cotton farmers will become "more American" species since then.

Xu Zhiming has been careful about the potential gains from acquisitions.

He gave reporters a simple account, in 2010 the domestic cotton.

How to do this multinational cotton business, Xu Zhiming has a long view.

"Mali cotton production per mu is now more than 200 kilograms, only half of China. I want to first introduce our country's high-quality cotton seeds, planting technology, talents, equipment, fertilizers, pesticides, and guide cotton growers in the local area. I am responsible for underwriting.

After a period of operation, my ultimate goal is to build cotton mills locally, develop the weak textile industry in Mali, create employment opportunities for the locals, and build Mali into a new cotton textile base.

He said.

In Xu Zhiming's view, after the completion of the acquisition, it has a very important significance for "Yue Mei", that is to say, "Yue Mei" formally formed a complete global textile industry chain from raw materials, printing and dyeing to weaving.

It is understood that before the "Yue Mei" in Nigeria and Garner respectively have a weaving base, in the country has Zhuji headquarters, weaving base and Hubei cotton textile printing and dyeing base.

The acquisition has just been completed and the harvest is in sight.

Xu Zhiming disclosed that although the delivery of assets will not be completed until the end of April this year, the first batch of ten thousand tons of Mali cotton will sail across the sea in the next month.

Mali is a landlocked country on the southern edge of the Sahara desert in western Africa with an area of more than 124.1 square kilometers and a population of about 11 million 700 thousand.

The northern part of Mali is a tropical desert climate. The middle and southern parts of the country are tropical steppe, and the agriculture and animal husbandry are more developed.

Mali mainly exports three major products, namely gold, cotton and livestock.

Mali is the largest cotton producing country in Africa, and the output of cotton is second only to Egypt and Burkina Faso, the third in Africa.

There are about 550 thousand hectares of cotton fields in the country, mainly distributed in the Henan part of Niger: Sikasso, S Gou and Currie C Lo (Koulikoro), and in the western area of the Kat (Kita) area. About 3 million 300 thousand people live on cotton plants.