Changda enters into Co-operation Agreement with
August 19, 2010 12:22 PM Eastern Daylight Time
WEIFANG, China--(EON: Enhanced Online News)--Changda International Holdings, Inc. (OTCBB: CIHD) the
Weifang based specialty chemicals manufacturer and fertilizers producer has entered into a comprehensive
agreement for its products and raw material purchases with Sinochem, one of China’s biggest chemical companies.
Under this agreement Sinochem will act as an exporter and reseller of Changda’s products and an importer of raw
materials for Changda. The following conditions have been agreed upon.
Changda commits to expand the production capacity of its pharmaceutical intermediates as soon as possible in order
to supply adequate amounts of the product to Sinochem.
Both parties agree to grant each other priority in purchases and sales of its products and raw materials.
Sinochem grants Changda International USD 900,000 for raw material purchases. Furthermore Sinochem also
expresses its intention to issue RMB credit to Changda Chemical for the same purpose.
Both parties also agree to explore expansion opportunities as well as the exchange of information & technology.
In the long term both parties agree that Changda International shall become an important production base for
Sinochem, both parties also agree to consider joint ventures and potential M&A activities.
“In the internationalization, the broadening of our market range and strengthening of our chemical products line, this
marks an important development as we have found with Sinochem a true global partner We are very excited about
the prospects of this agreement.” said QinRan Zhu, the CEO of the company.
“We experience very positive developments in the demand for our chemical products, and with partners like
Sinochem, we see this trend continue in the future.” Said HuaRan Zhu, Executive Director and head of the chemical
division of Changda.
About Changda International Holdings, Inc.
Changda International Holdings, Inc., t