By Dhirendra Tripathi
Investing.com – Beyond Meat (NASDAQ :) rose 3.6% in pre-market trading on Wednesday. This is an optimistic view that the company’s new unit in China will help serve more customers and more quickly in the region.
Beyond Meat’s share price is 37% below its 52-week high of $ 220.8. After the company reported a loss of $ 25.1 million in the fourth quarter of 2020, it receded from a loss of $ 500,000 in the same period in 2019.
The manufacturing sector near Shanghai is the first unit outside the United States.
The plant also helps companies improve their cost structure and make their businesses sustainable.
To meet the growing demand for plant-based meat in China, the facility produces a variety of plant-based pork, beef and chicken products.
The facility focuses on long-term growth and expansion of existing retail and food services businesses, and also has R & D capabilities to create new products and support the company’s local strategic partners. ..
The company also announced that it will open its first owned manufacturing facility in Europe this year.
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Beyond the profits of meat after opening a Chinese factory by Investing.com
https://www.investing.com/news/stock-market-news/beyond-meat-gains-after-opening-china-plant–2468039 Beyond the profits of meat after opening a Chinese factory by Investing.com