Governor Fletcher, Economic Development Secretary Hindman Visit Alltech China
As part of an economic development trip to China, Kentucky Governor Ernie Fletcher and Economic Development Cabinet Secretary John Hindman are paying a visit to Alltech's regional headquarters in Beijing. The two-hour visit to Alltech China will include a tour of the facility and a luncheon with several of the company's key customers and members of the local media.
Dr. Pearse Lyons, president of Alltech said, "Governor Fletcher and Secretary Hindman's visit signals how important it is for companies in Kentucky to reach out and establish business ties throughout the world. China especially is an important ally for us, as our placement of a key regional office there shows. With its rapidly developing economy and growing population, we anticipate that the world will need to double its feed production solely to provide enough food for that country. This need for expansion and growth in the industry offers Alltech an exciting opportunity to launch products into the Chinese market."
One of the first companies in Kentucky to launch a wholly-owned office in Beijing, Alltech now has a manufacturing plant there and employs over 50 people at its Chinese office. Alltech's sales in the country are expected to exceed $10 million in 2007, with a target for $50 million-$100 million in sales in the next five years.
"Alltech is one of the leading research-based animal health companies in the world and just one of several world-class biotech companies headquartered in Kentucky," said Governor Fletcher. "With 14 production facilities worldwide, it is a delight to have the opportunity to visit Alltech's regional headquarters in Beijing."
"Through strong public-private partnerships with companies such as Alltech, the positive economic impact for the commonwealth from the biosciences is significant," added Secretary Hindman. "Kentucky biotech companies are contributing major scientific advancements and bringing higher paying jobs to the state."
Governor Fletcher's trip is aimed at firmly establishing Kentucky as a key location for Asian companies seeking to do business in the United States.