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Suli Fine Chemicals plans Yuan 720 million IPO on azoxystrobin and other pesticide projects
Jul. 5, 2016
Chinese agrochemical company Jiangsu Suli Fine Chemicals has issued an IPO prospectus for the first time, in which an intended fundraise of Yuan 720 million is announced, to be invested in 5 projects including an annual 1,000-ton azoxystrobin technical facility, an annual 10,000-ton pesticide formulation project and an annual 9,000-ton pesticide formulation upgrade.
Suli Fine Chemicals says that after completion of the above projects, the company’s annual chlorothalonil technical output is expected to reach 15,000 tons, azoxystrobin technical to reach 2,000 tons, pesticide formulation to reach 24,000 tons, TDE to reach 10,000 tons, flame retardant to reach 10,000 tons and melamine pyrophosphate to reach 500 tons, which will altogether generate an total annual income of Yuan 2-3 billion.
Suli Fine Chemicals was founded in 1994, which owns several subsidiaries including Suli Chemical, Baili Chemical and Suli Pharmaceuticals. The major business scope covers research, production and marketing of pesticide, flame retardant and other fine chemicals. Its main products include chlorothalonil technical, azoxystrobin technical and formulations, TDE and hydrobromic acid. The company has established sound working relations with world-famous pesticide enterprises like Syngenta, Oxon, Agriphar and Makhteshim. The business income of Suli Fine Chemicals of 2015 reached Yuan 1.12 billion, with net profit of Yuan 160 million.
Source: AgroNews
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