Brief: Changmao Biochemical Engineering Says Co Ceased Production Of Maleic Anhydride In June

Changmao Biochemical Engineering

24/06/2020 11:30

June 24 (Reuters) - Changmao Biochemical Engineering Co Ltd
 0954.HK :
    * VOLUNTARILY CEASED PRODUCTION OF MALEIC ANHYDRIDE IN JUNE
2020
    * TO CONTINUE TO EXPLORE POSSIBILITY OF PRODUCING MALEIC
ANHYDRIDE
IN GROUP'S PLANT IN LIANYUNGANG
    * PLANS TO RELOCATE OTHER PRODUCTION LINES FROM CHANGZHOU
PLANT 1
TO CHANGZHOU PLANT 2
    * GROUP HAS TO RELOCATE PRODUCTION LINES IN PRODUCTION PLANT
IN
BINJIANG DEVELOPMENT ZONE OF CHANGZHOU
    * RELOCATION WILL TAKE PLACE IN STAGES, MIGHT CAUSE
TEMPORARILY
INTERRUPTION TO GROUP'S PRODUCTION
    * CHANGZHOU GOVERNMENT TO COMPENSATE GROUP FOR LOSSES DUE TO
CESSATION OF PRODUCTION IN CHANGZHOU PLANT 1
    * COMPENSATION AMOUNT EXPECTED TO BE AT LEAST 70% OF
APPRAISED
VALUE OF PRODUCTION ASSETS IN CHANGZHOU PLANT 1

Source text for Eikon:  ID:nHKS4DcL6Z 
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 ((Reuters.Briefs@thomsonreuters.com;))