Sep. 19, 2017
By Think Real - In July, 2017, Shandong Qiaochang Chemical Co., Ltd.
(Shandong Qiaochang) made a successful conclusion to its business reorganisation in the handover conference. Directors of the company, as well as representatives from the Development and Reform Commission of Bincheng District, Binzhou City, Shandong Province, attended the event. Following this, the company would be renamed as Shandong Qiaochang Modern Agriculture Co., Ltd., Shen Xiaofeng designated as the legal representative of the restructured company.
“A new team led by An Xiaonan will take over the businesses,” declared the former representative of Shandong Qiaochang, “May the new company, under the new leadership, make larger contribution to the economic development of Binzhou!”
The new management team also promised to forge ahead with quality products and services, “In the coming 3-5 years, we aim to enter the Main Broad Market, get listed among the top 5 Chinese agrochemical manufacturers, and transform into a leading provider of integrated modern agricultural services.”
Prior to this in June 2016, the People’s Court of Bincheng District issued a notice on the bankruptcy and reorganisation of Shandong Qiaochang, the largest herbicide producer in Shandong Province and also a domestic herbicide giant, astonishing the entire domestic agrochemical industry.
“Its bankruptcy is mainly a result of its failure in strategic business positioning and capital management. Of course, the weakening herbicide exports and declining product prices also count to some extent,” commented an industry insider.
For more details, please see: News_ China Agrochemicals Weekly Insight Issue 29 20160801, Largescale herbicide manufacturer Shandong Qiaochang facing bankruptcy risk.
Picture 1: Shandong Qiaochang’s business reorganisation and handover conference, 7 July, 2017
Source: Shandong Qiaochang