China丨ABA Chemicals to establish a joint venture in Gansu,to promote pesticide customization business

Based on the need of strategic planning and business development, ABA Chemicals (Nantong) Limited, a wholly-owned subsidiary of ABA Chemicals Corporation, and Biotalk Co., Ltd., plan to jontly investe RMB 200 million yuan to establish Gansu Lanong Technology Co., LTD., in Lanzhou City, Gansu Province.

 ABA Chemicals (Nantong) Limited intends to invest RMB 160 million and hold 80% equity of the target company.Biotalk plans to invest 40 million yuan and hold 20% equity of the target company.

Company name: Gansu Lanong Technology Co.,LTD. (tentative name)

Type of company: Limited liability company

Registered capital: RMB 200,000,000

Operating range: Permitted items: pesticide production, pesticide wholesale, pesticide retail, production of new chemical substances. 

General projects: technology services,technology development, technology consulting, technology exchange, technologytransfer, technology promotion; special chemicals manufacturing (excluding dangerous chemicals); special chemicals sales (excluding dangerous chemicals);import and export of goods; chemical products production (excluding licensed chemical products); chemical products sales (excluding licensed chemical products), etc. (specific to the business sector to approve the operation ofthe project shall prevail)

The purpose of this investment is to promote the development of the company's pesticide customization business.Through this cooperation, the advantages of both parties in advanced technology research and development, product innovation, capital, production management and market development can be fully utilized. The establishment of the joint venture will help the company fully integrate the advantageous resources of all parties, thus forming a new profit growth point and strengthening the company's leading position and competitive advantage in the industry.