Sanonda to Build Formaldehyde Facility      

Hubei Sanonda Co., Ltd. (Sanonda, SZ: 000553), a leading agrochemical producer in China, plans to form a joint venture with its majority shareholder Hubei Sanonda Group for building a formaldehyde facility at the Jingzhou site of Hubei province.
   The proposed 51/49 joint venture between Sanonda and Sanonda Group, which is estimated to be registered with a capital of RMB10 million, intends to invest RMB35 million in construction of the proposed 80 000 t/a formaldehyde facility. The formaldehyde to be produced is to meet the demand of glyphosate production in Sanonda and surplus is for sale.