Jiangsu Changqing to invest in pesticide production
Chinese company Jiangsu Changqing Agrochemical plans to raise Yuan 378 million ($60.7 million at the current rate) from a sale of convertible bonds. The newly raised funds will be invested in the company’s Nantong-based subsidiary to aid in the completion of four agrochemical manufacturing projects. The four active ingredient production projects are a 3,000 tonnes/year plant for the herbicide, S-metolachlor; a 300 tonnes/year facility for the herbicide, cyhalofop-butyl; a 300 tonnes/year plant for the fungicide, epoxiconazole, and a 1,000 tonnes/year facility for the insecticide, acetamiprid. Jiangsu Changqing Agrochemical recorded total sales of $261 million in 2013, an increase of 27.3% year-on-year (Agrow No 685, pp 29-31).