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Flagchem to launch subsidiary to increase competitiveness in downstream organic synthesis market
Nov. 2, 2021
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ChinaJiangsu Flagchem recently announced it intends to use its own funds to launch a joint venture with Wu Yaojun, who is the board chairman and general manager of Flagchem, being an affiliated person to the company.
An investment agreement is predicted to be signed between Flagchem and Wu Yaojun, which aims to establish Nanjing Yien Biotech Co., Ltd., with a registered capital of RMB50 million.
The subsidiary’s business scope will include cell R&D and application, biopesticide R&D, bio-chemical R&D, and new material R&D.
The announcement stated the investment aims to utilize the company’s experience and capability in organic synthesis and research, in cooperation with Wu’s accumulated knowledge and resources in the field of biomedicine, to improve the company’s market competitiveness in downstream organic synthesis, as well as to further optimize the company’s business structure and ensure its long-term strategic development.
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