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Suli to spend Yuan10 million to set up a wholly-owned subsidiary in Ningxia, China
Dec. 26, 2018
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China
The scope of business of the subsidiary involves production and marketing of fire retardant, water treatment agent, mold-proof preservative, pesticide, fertilizer, new material and fine chemicals; sales of chemicals and raw material (exclusive of hazardous chemicals); chemical product-oriented technical development, technical service, technical consultancy, technical transfer; import and export, or agency import and export of a variety of commodities and technologies.
The announcement says that the purpose of setting up the subsidiary is to make complete the business deployment and to implement part of the mid-long term strategic plan of the company, which will enable it to further optimize its business by using the resources in west China for the purpose of cultivation of a new source of profitability.
In July this year, Suli Co., Ltd announced that its subsidiary, Jiangyin Chemical would make an investment of Yuan10 million in setting up a wholly-owned subsidiary in Shanghai with its business scope covering agrotechnical consultancy, technical service, technical transfer and technical development.
The third quarter report of Suli Co., Ltd has revealed a business income in the first three quarters of Yuan1.203 billion which is 13.01% up year-on-year and profit of Yuan228 million which is 36.78% up year-on-year.
Source: AgroNews
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