Lier Chemical to invest in raw materials supply
Chinese agrochemical company Lier Chemical will invest Yuan 12.3 million ($1.8 million) in Chinese chemical company Jiangyou Qimingxing Chlor-alkali, in the form of a capital increase. After the increase, Lier Chemical will hold 41% of Jiangyou Qimingxing's registered capital. The investment will be primarily used to create a 20,000 tonnes/year ionic membrane sodium hydroxide facility. Sodium hydroxide, liquid chlorine and hydrochloric acid are all “indispensable” basic chemical raw materials, and this investment will help “guarantee the stable supply” of such raw materials, the company reports. In 2008, Lier Chemical invested Yuan 28 million ($4.1 million at the current rate) in the development of its production line technology for the herbicides, clopyralid and picloram ( Agrow No 553, p 2).