Novus International says it will implement a
different business model in China.
Novus International, Inc., leading feed additive company which entered the Asia market in 2003, announced its plans to change to an indirect business model in the China market. Company leaders said they are working to establish channel partners to continue serving customers in that country.
This change is part of Novus’s drive to better serve those in its core markets through its strategic business plan, Project Destiny.
“This critical business decision allows us to focus on the expansion of our business in Asia and focus our direct investment where we have tremendous growth potential,” says Dan Meagher, Novus CEO and president. “Our investment and focus on our core Asia markets have never been stronger.”
While this decision will allow the company to invest in other parts of Asia, Novus leaders recognize the importance of their customers in China and the country’s own vital position in the animal protein industry.
“We are actively working to identify potential partners/distributors to serve our customers in the China market and represent our product portfolio,” says Vaibhav Nagpal, Novus managing director for Asia.
Headquartered in the United States, Novus develops, manufactures, and commercializes feed additives for the animal protein market globally.
The decision to change business models in China is aligned with Novus’s business strategy to simplify operations and invest in markets that are aligned with its core strengths for driving sustainable growth.
“We must continue to transform and position ourselves for further growth and increased success in markets that allow us to stand out with differentiated products and unique offerings,” says Meagher.