McVicar announces closing of Luyuan acquisition
Luyuan is a manufacturer and supplier of specialized chemical products for industrial markets. One of Luyuan's main products is a key raw material Hongbo uses for its products currently sold to DuPont. This acquisition is to ensure that Hongbo can provide the quantity and quality of its products to DuPont and to expand Hongbo's market share and product offering. Luyuan also provides intermediate chemicals for the textile industry with annual capacity of up to 100 million RMB (~ CDN $15 million).
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