AgreementAgreement • November 9th, 2006 • Synutra International, Inc. • Non-operating establishments
In order to speed up local economic development, improve structural reforms of local industries, and to push forward commercial development of local agri-business and husbandry, Party A intends to introduce Party B to establish, within Zheng Lan Qi area, a 100% foreign owned dairy production and processing company. The following understanding has been reached and agreed upon. Party B intends to take control of all the assets (including land use rights and all milk collection facilities) of the company formerly known as Zheng Lan Qi Wan Da Shan Dairy Company, Ltd of Inner Mongolia (hereafter referred to as “Lan Qi Dairy”), at a price of RMB 31,000,000, in order to establish a wholly foreign-owned company (hereafter referred to as “New Foreign Company”) and to complete building of the facilities so to ensure its commissioning within the year.
