Yangnong Chemical to set up a subsidiary in Huludao of Liaoning Province for production of pesticides, chemical products and intermediates

A few days ago, Yangnong Chemical made an investment announcement saying that the company’s board of directors has approved setup of a wholly owned subsidiary in Huludao Economic Development Zone in Liaoning Province for production of pesticides, chemical products and intermediates.

Yangnong Chemical plans to spend RMB300 million in setting up Liaoning Youchuang Plant Protection Co., Ltd (tentative name), where the scope of business will cover manufacturing and processing of pesticides and formulations; business operation of hazardous chemicals; manufacturing and processing of fine chemicals; pesticide technology development and application-oriented services; import and export of commodities and technologies.

The registered capital of the new company is RMB300 million, which will be all self-raised funds by Yangnong Chemical; the procedure of incorporation will be implemented after approval is granted by China Sinochem Holdings Co., Ltd, the owner of Yangnong Chemical.