(Yicai Global) July 23 -- Guangdong VTR Bio-Tech, China's largest feed enzyme maker, will join with Germany's feed-additive firm Phytobiotics Futterzusatzstoffe to form a joint venture as it seeks to manufacture and sell enzymes in Europe.

VTR Bio-Tech will infuse cash into the new company in Neuendettelsau in the southern German state of Bavaria, the biological product developer headquartered in Zhuhai in South China's Guangdong province announced today.

The target company will have capital of EUR1 million (USD1.17 million). VTR Bio-Tech and Phytobiotics, based in Eltville in the west-central state of Hesse, will contribute EUR510,000 and EUR490,000, for a 51 percent and 49 percent stake, respectively, per the announcement.

The joint venture will produce, process, package and sell various enzymes, conduct related technological research and development and provide technical services, the announcement stated.

The partnership will target European countries and the cooperation will help VTR Bio-Tech grow its global footprint, enhance its provision of integrated services in the enzyme preparation field, and boost its market competitiveness and international popularity, the announcement added.

Editor: Ben Armour