Hezong Science & Technology to establish sub-subsidiary to invest in building battery grade iron (iii) phosphate projects
2021-12-17 18:04:32 [Print]
Hezong Science & Technology announced on December 16th that its wholly-owned subsidiary, Hunan Yacheng New Materials Co., Ltd., is about to invest RMB55 million (USD8.64 million) in establishing a sub-subsidiary, Guizhou Yayou New Material Co., Ltd. The new company will invest in building battery grade iron (iii) phosphate projects as well as other projects related to the mining of phosphorus ores, the production of phosphorous chemical products and the acid manufacturing by pyrites. Hezong Science & Technology will effectively raise its production capacity of iron (iii) phosphate, meet the demand from downstream customers and expand market shares by investing in iron (iii) phosphate integration projects through its new sub-subsidiary.
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