Sanyuan Group

Sanyuan Group (Chinese: 三元集团; pinyin: Sānyuán Jítuán) is a state-owned group of companies based on agriculture and animal husbandry in China. It consists of 12 state farms, 20 professional companies, 41 transnational joint ventures, 3 overseas subsidiaries and 1 public company as Beijing Sanyuan Foods, which is listed in Shanghai Stock Exchange.[1]

Sanyuan Group
三元集团
TypeState owned
IndustryAgriculture and animal husbandry
FoundedBeijing, China
Headquarters
Beijing
,
China
Area served
China
ProductsDairy products
Websitehttp://www.sanyuan.com.cn

Sanyuan Foods
Sanyuan milk

Phoenix Television was quoted as saying Sanyuan Foods was chosen by Beijing Olympic Committee at the last minute as the sole supplier of milk and dairy products for both the 2008 Summer Olympics and the 2008 Summer Paralympics. The original supplier of dairy products to the 2008 Beijing Olympic was Yili Group, but Yili was dropped when its products failed quality tests.[2] After Sanyuan Foods' products were cleared in the nationwide test for melamine, its share price surged 10 percent, a jump of 52% in 5 days.

Independent media have reported that during the 2008 Beijing Olympics[3] and the 2008 Beijing Paralympics, the "State Council Special Food Supply Center"[4] was the only food supplier chosen by the Beijing Olympic Committee when all other national suppliers failed the stringent tests.

"All the food supply, including dairy, for the Olympics and Paralympics were safe," Li Changjiang, former head of AQSIQ told a press conference. "We took special quality management measures aimed at food supply for the Games."

On 26, September 2008 Beijing Sanyuan Foods Co Ltd[5] (SHA 600429) said its shares will be suspended from today pending an announcement related to a possible acquisition. Beijing Sanyuan is the only listed dairy producer that has avoided being associated with China's milk contamination scandal.

The official China Securities Journal cited market sources as saying that Sanyuan, a second-tier company, may acquire Sanlu Group, the dairy at the center of the contamination scandal, taking the opportunity to become one of the top brands.[6]

See also

References
  1. "Mengniu Dairy Shares Tumble by Record on Tainted Milk (Update3) By Theresa Tang". Retrieved 2008-09-25.
  2. "China Authorities Avoid the true Reasons For Contaminated Milk Powder". VOA. China Digital Times.
  3. "Dairy supply for Olympics safe due to "special management"". Xinhua. 17 September 2008. Retrieved 2008-09-25.
  4. "China's Tainted Food Products Only Harm the Average People, High-Ranking Officials Have Their Own Specially-Supplied Food Sources". 20 September 2008. Retrieved 2008-09-26.
  5. "Beijing Sanyuan Foods suspended pending acquisition announcement". Xinhua. Quamnet. 26 Sep 2008. Retrieved 2008-09-26.
  6. "Sanyuan may take over tainted milk brand Sanlu". China Daily. 26 September 2008.
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