Neogen’s New Subsidiary (NASDAQ:NEOG)

The new company, headquartered in Sao Paulo will be the distribution centre of Neogen’s food safety products throughout Brazil.

The formation of Neogen do Brasil was to accelerate the success of Neogen products in Brazil, which has now become the world’s largest food producer and exporter. Currently, Brazil is the world leader in the export of numerous food products that includes beef, poultry, coffee, sugar, soybeans and orange juice. Neogen is looking forward to a great success in future with its expansion in Brazil that will help them grow internationally. Brazil-based food producers have shown a great deal of influence outside of that country. And with the fifth largest economy in the world, Brazil is one of the few countries that have been showing increase in its gross domestic product for the current year.

Neogen’s President and Chief Operating Officer, Lon Bohannon stated that after Scotland, Germany and Mexico, Neogen is looking forward to strengthen their presence in an important country that will help them distribute their products all over Brazil.