Yihe signs import deal with Chinese firm

U.S. salmon importer Yihe International Corp. has signed a one-year deal with Chinese seafood processor Aquatic Foods Group worth USD 15.4 million (EUR 13.8 million).

Under the new deal, Yihe will take 11 separate seafood products from Aquatic, according to an announcement from Aquatic.

Both companies have done business before, but previous deals have only been worth about CNY 6.2 million (USD 973,427, EUR 871,192) in products per year. The new deal is estimated to be worth CNY 99 million (USD 15.5 million, EUR 13.9 million).

"The board is pleased to sign this significant contract with Yihe,” said Aquatic CEO Li Xianzhi. “Whilst Aquatic Foods has experienced high growth within the local PRC market in recent years, the export market remains an important source of revenue for the group."

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