As
China 's
two well-known phosphorus companies -Jiangsu Chengxing Phoshorus-Chemcials Co.,
Ltd. (Jiangsu Chengxing) and Liuguo Chemical Industry Co., Ltd. (Liuguo
Chemical) failed to develop lithium iron phosphate in succession, competitors
should be cautious about choosing their business for expansion.
On
Nov. 11th, Jiangsu Chengxing, known as China 's
top phosphate chemical producer, announced that it plans to withdraw capital
from its holding subsidiary — Jiangyin Tiancheng New Energy Technology Co. , Ltd. (Tiancheng New Energy), amounting to USD2.97
million investment. Jiangsu Chengxing's move is mainly affected by mediocre
development of lithium iron phosphate since the establishment of Tiancheng New
Energy.
With
a registered capital of USD10.62 million, Tiancheng New Energy was formed by
Jiangsu Chengxing in April 2010. Thereinto ,
Jiangsu Chengxing accounts for
28% stakes. In accordance with the initial scheme, Tiancheng New Energy should
get into the mass production of lithium iron phosphate.
In
addition to Jiangsu Chengxing, Liuguo Chemical, as a listed company
specializing in producing phosphate fertilizers (DAP, MAP and types of compound
fertilizers), also takes a hit in extension of lithium iron phosphate.
On
June 18th, 2010, Liuguo Chemical and Sichuan
University signed a
two-year technical service contract. According to the contract, Sichuan University should develop production
technology of lithium iron phosphate to achieve mass production. However, the
target of mass production was not realized till expiration of contract.
Nonetheless, Liuguo Chemical expressed that they would not give up the
development of lithium iron phosphate. The cooperation with Sichuan University
is still in progress, as noted by one insider from the company.
Phosphorus
Industry China Monthly Report is a monthly publication released by CCM. It offers timely update and close
follow up of China ’s
various kind of Phosphorus market dynamics, analyze the market data and trends.
Major columns include market dynamic, company dynamic, raw material supply,
price update, import & export analysis, consumption trend &
competitiveness.
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Guangzhou CCM Information Science & Technology Co., Ltd.
17th Floor, Huihua Commercial & Trade Mansion, No.80 Xianlie Zhong Road, Guangzhou 510070, China.
Tel: 86-20-37616606 Email: econtact@cnchemicals.com
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