Wellard Limited
(ASX:WLD) has advised it has achieved a significant milestone important to the progress of its China cattle investment.
As outlined in Wellard’s IPO prospectus, Wellard and WGH Holdings have signed a shareholders’ agreement with Fulida Group Holdings and Zhejiang Aurora Agriculture Co.
The company says the signing of the shareholders agreement is a significant step forward as it enables it to start building an abattoir in Q4 of FY2016.
Wellard CEO Mauro Balzarini says the company is convinced it has found the right partner in China given the level of cooperation Fulida has provided.
Wellard reported a net loss of $23.87 million at 31 December 2015.
