On July 8, Hebang Biotechnology today that the company is plan to invest Yuan 178.55 million in projects of 2,000 ton/year cycolxylidin technical and 5,000 ton/year cycolxylidin DP. The project construction period is one year.
Cycolxylidin was developed by Hebang with state patent and pesticide registration approved. The active ingredient belongs to neonicotinoid insecticides, featuring wide spectrum, high efficiency and low toxic to environment. In the background of the whole society calling for food safety and the rising of awareness to soil pollution, insecticide with low toxicity and high efficiency would avoid the irrational competition between chemical pesticides and face a more promising future. Besides, comparing to traditional nicotinic product, cycolxylidin also has the advantage of lower manufacture cost.
According to the company’s financial report, the above projects would bring Yuan 83.12 million profit after tax. Hebang thinks the projects would help it penetrating in new market, enhancing its core competitiveness and anti-risk capability, finally bring new growth point to its business development.(from agropage)