Global Bio-chem Technology to tap 5 new sales networks this year

Global Bio-chem Technology Group (0809) Chairman Liu Xiaoming said that the original plan about adding metamorphic starch equipment would be carried out in two phases, in that the metamorphic starch is in urgent supply and the company hopes to concentrate efforts to develop another new product.

He also revealed that the company planned to set up 5 new marketing networks including Philippine, South Korea, Taipei, Kaohsiung and Singapore. The domestic sales claim 94% of the total sales in the company.

He said that the company is in talks with Cargill on cooperation. With no details disclosed, he said that he hoped that a result would be reached this year. Currently, Cargill holds 7.5 mln shares of the company and another shareholder Cheung Kong (0001) controls 64 mln shares.

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