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Zhejiang Hangzhou Xinfu Pharmaceutical Co Ltd (Xinfu,SZ:002019) announced on May 5th to spin off its hydrocyanic acidplant in Zibo,Shandong province at a contract value of RMB1.5million to Zibo Biyun Chemical Co Ltd.Xinfu uses hydrocyanic acid to make D-pantolactone that is akey intermediate for the pantothenic acid family products.ZiboBiyun Chemical Co Ltd promised Xinfu that it will not use thisplant to produce D-pantolactone in ten years after transaction.In 2005 Xinfu bought this plant at a price of RMB6.5 million.Because the plant can not supply sufficient hydrocyanic acid tomeet Xinfu’s need,it was closed in 2007 and rented to another
Announced on May 5th to spin off its hydrocyanic acid plant in Zibo, Shandong province at a contract value of RMB1.5million to Zibo Biyun Chemical Co Ltd.Xinfu uses hydrocyanic acid to make D (Xinfu, SZ: 002019) -pantolactone that is a key intermediate for the pantothenic acid family products. ZiboBiyun Chemical Co Ltd promised Xinfu that it will not use thisplant to produce D-pantolactone in ten years after transaction.In 2005 Xinfu bought this plant at a price of RMB6.5 million .Because the plant can not supply sufficient hydrocyanic acid tomeet Xinfu’s need, it was closed in 2007 and rented to another