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Feihe International, Inc. - NYSE

4/19/2014, 7:39 AM ET
Quote & Analysis Breaking News StockTalk Description
Sector: Consumer Goods
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Industry: Dairy Products
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Country: China

Feihe International Inc. is a leading producer and distributor of milk powder, soybean milk powder, and related dairy products in the People’s Republic of China, or the PRC. Using proprietary processing techniques, we make products that are specially formulated for particular ages, dietary needs and health concerns. We have over 200 company-owned milk collection stations, two company-owned dairy farms, seven production facilities with an aggregate milk powder production capacity of approximately 1,234 tons per day and an extensive distribution network that reaches over 95,000 retail outlets throughout China.

Corporate History and Structure

We were incorporated in the State of Utah on December 31, 1985, originally under the corporate name of Gaslight, Inc. We were inactive until March 30, 1988, when we changed our corporate name to Lazarus Industries, Inc. and engaged in the business of manufacturing and marketing medical devices. We discontinued this business in 1991 and became a non-operating public company shell. Effective May 7, 2003, we acquired 100% of the issued and outstanding capital stock of American Flying Crane Corporation, or AFC, a Delaware corporation that operates a dairy business in China through various subsidiaries. In connection with that acquisition, we changed our name to American Dairy, Inc.

Today, we own various subsidiaries in the PRC that operate our business, including: Heilongjiang Feihe Dairy Co., Limited, or Feihe Dairy, which produces, packages and distributes milk powder and other dairy products; Gannan Flying Crane Dairy Products Co., Limited, or Gannan Feihe, which produces milk products; Shanxi Feihesantai Biotechnology Scientific and Commercial Co., Limited, or Shanxi Feihe, which produces walnut and soybean products; Langfang Flying Crane Dairy Products Co., Limited, or Langfang Feihe, which packages and distributes finished products; Baiquan Feihe Dairy Co., Limited, or Baiquan Dairy, which produces milk products; Heilongjiang Feihe Kedong Feedlots Co., Limited, or Kedong Farms, which operates dairy farms; Heilongjiang Feihe Gannan Feedlots Co., Limited, or Gannan Farms, which operates dairy farms; Heilongjiang Aiyingquan International Trading Co., Limited, or Aiyingquan, which markets and distributes water and cheese, specifically marketed for consumption by children; and Heilongjiang Flying Crane Trading Co., Limited, or Heilongjiang Trading, which sells milk and soybean related products.