5 May 2011 09:58

China Meheco signs $939 mln supply contract with Venezuela

Shanghai. May 5. INTERFAX-CHINA - State-owned medical distributor China Meheco Corp. announced May 5 it has signed a two-year supply contract worth RMB 6.1 billion ($939 million) with Venezuela's Ministry of Health.

The contract represents the firm's largest supply deal in Venezuela to date, the announcement said.

China Meheco declined to comment on what will be supplied under the contract when contacted by Interfax.

Based in Beijing and listed on the Shanghai Stock Exchange, China Meheco mainly distributes herbal, chemical and biological drugs, along with medical equipment, both at home and abroad. The company booked operating revenue of RMB 6.26 billion ($964.04 million) and net profit of RMB 195 million ($30.03 million) in 2010.

- MS