Luzhou Bio-Chem Enters JV With Beijing Qingfa Bio-Technology Centre
Luzhou Bio-chem Technology announced that its subsidiary, Luzhou Bio-chem Technology (Shandong) had entered into a joint venture agreement with Beijing Qingfa Bio-technology Centre pursuant to which a new subsidiary, Shandong Luzhou Amino Acid was incorporated in the People’s Republic of China. The registered capital of Luzhou Amino Acid shall be Rmb16m, with Rmb8.8m from Luzhou and Rmb7.2m from Qingfa. Accordingly, Luzhou Amino Acid shall become a subsidiary of the Company. Luzhou Amino Acid shall be principally engaged in the production and sale of amino acids. It is part of the Company’s strategy of continually expanding its range of higher value products.