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Shandong Dacheng Pesticide relocated, investment injected as name changed to Shandong Dacheng Bio-Chemical
Mar. 21, 2016
Shandong Dacheng Pesticide Co., Ltd, demolished its old plant in the downtown area of Zibo City, following government instructions, and decided to build a new plant in the eastern chemical industrial park of the city. The new plant will cover 14 hectares. Land leveling work began on February 26 this year.
It is said that some strategic investors were introduced to Shandong Dacheng Pesticide last year. Jitai Group, the umbrella company that owns Hebei Growsun Chemical, has a 60% controlling share in Shandong Dacheng Pesticide, while CNAC of ChemChina holds a 40% stake. Shandong Dacheng Pesticide Co., Ltd, was renamed Shandong Dacheng Bio-Chemical Co., Ltd, and incorporated at the end of last year with registered capital of 100 million yuan. Shandong Dacheng Bio-Chemical will inherit the business operations of Shandong Dacheng Pesticide.
A senior manager at Shandong Dacheng Pesticide said, “According to the company's business plan, we will complete the pesticide formulation project by the end of 2016 and complete the technical material project by the end of 2017. Shandong Dacheng Bio-Chemical will be built into a comprehensive agricultural service provider, offering biopesticides and special fertilizers and aiming to provide supporting products to the overseas enterprises of ChemChina. ”
Founded in 1949, Shandong Dacheng Pesticide was a share-controlled subsidiary of CNAC of ChemChina, engaged in the chemical pesticide and chlor-alkali sectors. Its pesticide products cover dozens of varieties of the five major groups: insecticides, miticides, fungicides, herbicides, and plant growth regulators. It had an annual production capacity of 30,000 tons.
Source: AgroNews
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