Mengniu Dairy
| China Mengniu Dairy Company Limited | |
|---|---|
| legal form | Corporation |
| ISIN | KYG210961051 |
| founding | 1999 |
| Seat |
Hohhot , People's Republic of China
|
| Number of employees | 41,031 (2018) |
| sales | 68.977 million CNY (2018) |
| Branch | food |
| Website | www.mengniuir.com |
The China Mengniu Dairy Company Limited ( Chinese :蒙牛) is a publicly traded Chinese production and distributor of dairy products and ice cream . The company's headquarters are in Hohhot , Inner Mongolia . The name Mengniu literally means "Mongolian cow". The main domestic competitor is Yili .
history
Mengniu's owner and founder is Niu Gensheng , a former employee of Yili, another dairy giant that is now Mengniu's main competitor. He founded the company in 1999 and thanks to the increasing consumption of dairy products in the growing Chinese middle class, the company expanded rapidly. In 2002, Morgan Stanley , CDH Investments and China Capital Partners signed an agreement with Mengniu to invest $ 26 million for a total of 32% of the company. Mengniu was then listed on the Hong Kong Stock Exchange in June 2004 . In July 2009, Mengniu sold a 20% stake to a consortium led by the state-run COFCO , China's largest importer and exporter of food. This sale made the Chinese state the largest single shareholder.
The company was among the companies involved in the 2008 Chinese dairy scandal , in which elevated levels of melanin were found in dairy products from various Chinese manufacturers. The adulterated foods were also used in baby food in 2008 and led to kidney stones and massive kidney failure, so that almost 300,000 babies fell ill and six babies died. Trading in Mengniu shares on the Hong Kong Stock Exchange was temporarily suspended on September 17 as a result of the scandal, after previously plummeting 60%. In contrast to its competitor Sanlu , however, the company survived the scandal.
In 2019, the company took over the Australian baby food manufacturer Bellamy's Organic and the second largest milk processor in Australia, Lion Dairy & Drinks . This was interpreted as an attempt to diversify the company's business abroad.
Products
Mengnius products include liquid dairy products like ultra heat treated milk (UHT), yogurt and milk beverages , ice cream and other dairy products such as powdered milk and milk tablets. In the fiscal year ended December 31, 2015, the company operated 33 production facilities with a total annual production capacity of 8.68 million tons. China Mengniu Dairy Company Limited operates in three segments: the liquid dairy segment, which manufactures and sells processed UHT milk, milk beverages and yogurt; The Ice Cream Products segment, which manufactures and sells ice cream products, and the Dairy Products segment, which produces and sells processed powdered milk and milk tablet products.
Sponsorship
In 2017 Mengniu became the official sponsor of the world football association FIFA . Mengniu was also one of the sponsors of the 2018 World Cup .
Individual evidence
- ↑ China Mengniu Dairy: Mengniu's 2018 Revenue Reaches Record High at RMB68,977 million
- ↑ China Mengniu Dairy Co., Ltd. Retrieved January 18, 2020 (UK English).
- ↑ China Mengniu Dairy shares suspended -HKex . In: Reuters . September 17, 2008 ( reuters.com [accessed January 18, 2020]).
- ↑ Mengniu Dairy gulps down two Australian milk producers, Mengniu Dairy gulps down two Australian milk producers . In: The Economist . ISSN 0013-0613 ( economist.com [accessed January 18, 2020]).
- ↑ dairyreporter.com: Mengniu buys Lion Dairy and Drinks. Retrieved January 18, 2020 (UK English).
- ↑ FIFA.com: 2018 FIFA World Cup ™ - News - FIFA strengthens Official Sponsor line-up for 2018 FIFA World Cup Russia ™ with Mengniu Group - FIFA.com. Retrieved January 18, 2020 (UK English).