Anchun and China XLX: Entered into a JV with Henan XLX Chemical to build the largest reductive catalyst production plant in the PRC and will be involved in the sale of reductive catalysts, used in manufacture of ammonia. Co will invest Rmb9.8m for a 49.0% interest in JV and grant a shareholder loan of Rmb9.8m, total cash upfront of Rmb19.6m. Cost of the plant will be Rmb40.0m....
Anchun estimates there are 3 players in the same industry with total capacity of 780 tonnes per annum and the plant will boost co's capacity from 300 to 900 tonnes annually. Anchun’s IPO was at $0.28 but has been trading below, rose by $0.04 to close at $0.27 yday. co does chemical production systems and components for ammonia and methanol, used in fertilizers and petrochems.
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