AgroPages-Lier Chemical to raise Yuan852 million for 10,000-ton Glufosinate-Agricultural news

Lier Chemical recently announced fundraising of up to Yuan852 million for spending on the annual 10,000-ton Glufosinate technical, 1,000-ton Epoxiconazole technical and 1,000-ton Flumioxazin projects.

In case the aforementioned projects are implemented smoothly, the Glufosinate technical’s production capacity of Lier Chemical will be greatly increased, from the present annual 5,000-ton capacity up to the 15,000-ton capacity, which will further reinforce its leading position as the largest Glufosinate technical producer in China.

Lier Chemical has been exploring the international technical material market for over 20 years, with an earlier presence of its main product varieties in the international market, which is obviously a first move advantage over other Chinese competitors.

Through long-year market expeditions, Lier Chemical has exported its products to more than 30 countries and regions, including the United States, Brazil, Argentina and Australia, while having opened up the Chinese domestic market since 2006.

Over the recent years, the sales of formulations for its own brands have increased significantly. In 2015, Lier Chemical conducted consolidation of its formulation business unit, as well as a capital and share increase for a wholly-owned subsidiary to grow the formulation business of the company, such that the company’s technical material and formulation product can both develop in parallel.

According to an earlier newsletter of the company, Lier Chemical achieved business income of Yuan1.219 billion for January to June 2017, up 32.75 percent year-on-year and with net profit attributable to shareholders of Yuan149 million, up 52.44 percent year-on-year.