[ET Net News Agency, 19 October 2021] China Grand Pharmaceutical and Healthcare
Holdings Limited (00512) said Hubei Grand Life Science & Technology Co., Ltd. (Grand Life
Technology), a subsidiary of the group, has recently entered into an equity acquisition
agreement with Hebei Huayang Biological technology Co., Ltd., pursuant to which the Grand
Life Technology will acquire 80% equity interests of Cangzhou Huachen BioTech Co., Ltd.
(Huachen BioTech) by RMB107.2 million after the relevant conditions as agreed in the
acquisition agreement are fulfilled.
Huachen BioTech, located in Cangzhou National Chemical Industry Zone, is a company
engaged in the research and development, manufacture, sales and technical services of
amino acid products. Its main products are glycine and its derivatives. The company now
has an annual production capacity of 30,000 tons for industrial-grade glycine, and the
food-grade glycine production workshop is under preparation. (RC)
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00512 GRAND PHARMA
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3.990 0.000 (0.000%) Others
19/10/2021 10:30
China Grand Pharm (00512) to buy 80% of Huachen BioTech
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