On 28 April, 2020, Hailir Pesticides and Chemicals Group Co., Ltd (Hailir) released an announcement that in order to further expand markets in the Southeast Asia and improve overall competiveness and profitability of the company, the company intended to establish 2 overseas subsidiaries with its self-owned capital.
According to the announcement, two overseas subsidiaries include:
² Hailir Laos Co., Ltd. (the initial capital is USD2.8 million)
² Hailir Cambodia Co., Ltd. (the initial capital is USD0.99 million)
Business scope of the aforesaid subsidiaries are import and export as well as sales of pesticides and fertilizers.
Hailir established its overseas subsidiaries based on the requirements of its arrangement of strategy and development. The establishment of overseas subsidiaries to facilitate registration and sales of pesticide products abroad is of great significance to popularize the brand of the company in the long term.
Approval for domestic business and foreign currency, overseas registration and other procedures are required for this overseas investment made by Hailir.
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