Evonik has partnered with Shandong Vland Biotech (55:45) to form a joint venture (JV) in China focusing on gut health of farmed animals.
The JV called Evonik Vland Biotech (Shandong) Co Ltd will be headquartered in Binzhou, China. The partners, whom already have business relationship since 2015, will develop gut health-oriented products. Earlier in 2021, both partners launched a product, AQUAVI ProPond in China.
The 2 partners aim to bring their gut health businesses, such as probiotics and formulated products, into the JV to cover China, Hong Kong, Macau and Taiwan region, an area that accounts for over 20% of the global feed additives market.
The JV brings the partnership to a completely new level of cooperation. It will be a tremendous boost for Evonik’s position in China, while Vland stands to benefit from the amino acid producer’s global market access.