Philippines-based AgriNurture has purchased mango exporting firm Hansung Agro Productions for 10m pesos (US$216,000), GMA TV News has reported.
According to a company statement to the Philippine stock exchange, the move will let AgriNurture grow its exports to Japan and Korea, shoring up its position as a leading shipper of mangoes in the country.
'Hansung is engaged in the business of trading, import and export of goods such as agricultural products on wholesale basis. It is one of the few accredited companies that have the capacity and license to export fresh mangoes to Japan and Korea,' the AgriNurture statement said.
The company also ships bananas, pineapple, and papaya to Hong Kong, China, Europe and the Middle East.
AgriNurture shares closed at 16.25 pesos on Tuesday, up 0.25 pesos on the back of the announcement.
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