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ASIA BIO-CHEM GROUP CO. LTD. (TSE:ABC or ABC-TO)
Company Information:
130 Adelaide Street West Suite 2105
Toronto, Ontario
Canada M5H 3P5
Tel: (416) 603-7500
E-Mail (General Inquiries): info@asiabiochem.com
Asia Bio-Chem Group Co. Ltd. (“Asia Bio-Chem” or the “Company”), through its wholly-owned subsidiaries is a leading manufacturer in China of corn starch and related byproducts. The Company produces corn starch, corn germ, gluten and fibre per year for the Chinese domestic market, which has been experiencing robust demand for agriculture products.
Cornstarch is used in the manufacturing of hundreds of food products including MSG, fructose, maltose, glucose, dextrin, citric acid and lysine. Cornstarch is also used to produce sugar alcohols such as sorbitol and mannitol and is used to produce a wide variety of modified starch products for the pharmaceutical and fine chemical industries. The cornstarch manufacturing process produces three by-products: corn germ, gluten and fiber. Corn germ is used by the Company’s customers to produce corn oil used for cooking or in producing margarine. The gluten and fiber products manufactured by the Company are used by livestock farmers as animal feed.
In September, 2008 Asia Bio-Chem purchased Daqing Biochemical Company Ltd. a company located in Helongjiang Province. Daqing Bio owns a partially completed corn processing which, upon completion, is expected to add 600,000 tonnes of processing capacity which will triple the Company’s current capacity to produce cornstarch and related by-products.
For the nine-month period ending September 30, 2008, Asia Bio-Chem’s revenues and pre-tax operating income were $62.8 million and $9.8 million, respectively.
Management: http://asiabiochem.com/index.php/about/management
Recent Events: http://asiabiochem.com/index.php/recent-events
Recent News: http://cxa.marketwatch.com/TSX/en/Market/news.aspx?symb=ABC&sid=3266460
http://asiabiochem.com/index.php/news
Financials: http://tmx.quotemedia.com/financials.php?qm_symbol=ABC
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Investor Relations:
Robert Wilson robert.wilson@asiabiochem.com
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