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Guangxin Agrochemical to raise funds for pyraclostrobin and famoxadone projectsqrcode

Sep. 13, 2016

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Sep. 13, 2016
Recently, Guangxin Agrochemical Ltd announced plans to raise 1.4 billion yuan for 6 projects, including upgrading production facilities to permit the manufacturing of 3,000-tons of pyraclostrobin, 1,200-tons of famoxadone, 15,000-tons of o-phenylenediamine clean production, and more. The funding focuses on the main businesses of the company, and in bringing greater efficiencies to product structures, along with the technical upgrading of the company. Also, this will further improve the company’s ability to resist risks, and increase the overall competitiveness of the company.
 
According to the securities research publications, the capacity of 3 prime products manufactured by Guangxin Agrochemical – carbendazim, thiophanate-methyl and diuron, firmly ranks as the top 3 in the domestic market. Among them, the manufacturing of carbendazim reaches 18,000 tons annually, as the company possesses a 40% market share. Meanwhile, thiophanate-methyl has a 35% market share, demand for which has been growing in recent years, and the product is sold widely in some 80 countries, including Europe and America. 
 
Guangxin Agrochemical is one of the few Chinese companies in possession of diuron synthesis technology. The current diuron capacity of the company is 8,000 tons, and adding an additional 4,000 tons is expected this year. Its capacity ranks No.1 in China. Moreover, the company has mastered impurity control techniques, its DAP/HAP parameters exceed specifications of FAO, and it is able to provide high-quality product, which has been sold to premium markets in America, UK and Germany.
 
With the continued exploration of international markets and the completion of increased diuron manufacturing capacity, Guangxin Agrochemical is anticipating a steady growth in diuron sales in 2016. Additionally, the company is prepared to begin researching novel fine chemicals, which is expected to bring about a new round of growth for the company.
 
Source: AgroNews

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