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Shandong Luba to raise 112 million yuan for market exploration
Jun. 27, 2016
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ChinaRecently, Shandong Luba Chemical decided to raise 112 million yuan to replenish the company's working capital in support of market exploration.
The company said it had taken this step because the economic downturn, falling prices of grain, weak demand for pesticides, and environmental pressure had resulted in the agrochemical industry operating at a low cycle, with pesticide manufacturers increasingly suffering losses.
In 2015, Shandong Luba Chemical earned revenue of 1.29 billion yuan, including a net profit of 200 million yuan for shareholders. On November 10, 2015, the company was listed on the National Equities Exchange and Quotations.
Source: AgroNews
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