Sep. 24, 2019
Chinese listed agrochemcial company Jiangsu Fengshan Group
, is expected to re-open its major pesticide technical production workshop. Only 10 months after being listed, the company attracted market attention, due to its ST incidence.
Five months ago, on 18th April, the heating system at the Yancheng Dafeng Marine Economic Development Zone broke down. The development zone, where Fengshan Group is located, is approximately 150 kilometers away from the Yancheng Xiangshui Eco-Chemical Park. The zone’s heating supply has not yet been restored after five months, and since 18th April, the group has closed its pesticide technical production workshop, which produces trifluralin, nicosulfuron, quizalofop-p-ethyl and chlorpyrifos. Sales of these products accounted for 58.68% of the company’s total income in 2018.
On 18th September, an assessment of the company’s application to resume production was completed, although final approval has not yet been obtained. The group said that the re-opening date of the workshop is not yet certain, as the zone’s heating system has yet to be restored. The company’s management is in discussion with relevant authorities to speed up the process to re-open the workshop.