The Korean company CMG Pharmaceutical puts out feelers for pet food industry. The company as part of the CHA Biomedical Group will produce pet treats and snacks as well as adding pet medictions to its stock. Towards GlobalPETS, CMG remarks its plans to search for “variety of possibilities” focussing on technology and pet industry.
According to AJU Daily, CMG has acquired the South Korean animal supplement producer ING Medix. The company aims use its distribution network for the supply of the supplements.
CEO of CMG Lee Ju-hyung stated towards the press that the company has conducted a a hazard analysis procedure and is now aiming to build smart facilities. Furthermore, he revealed the company’s plans to record annual sales of ₩50 billion ($38.5M/ €36M) in its pet sector.
Pursuant to Statista, 19.6% of Korean households own a pet.
Read the original article here – globalpetindustry.com