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Dacheng Pesticide shuts down thermal power subsidiary
Jul. 13, 2011
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ChinaDacheng Thermal has suffered three consecutive years of losses and is listed among companies to be shut down or relocated by the Zibo municipal government due to environmental problems. Dacheng Pesticide estimates the relocation may cost as much as 250 million yuan. The source added that relocation will not completely solve its environmental problems and losses.
Dacheng Pesticide will dismantle the subsidiary’s production equipment to recover as much capital as possible.
Source: Capital Vue
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