Pan Wealth Resources, CO. Invests $18 Million in Renewable Chemical Company
Shyong Inc. has a proprietary technology platform to produce a wide variety of renewable chemicals such as terpenes, steroids and their derivatives for several industries including flavor and fragrance, food ingredients and cosmetics
- (1888PressRelease) August 20, 2012 - Pan Wealth Resources, CO. is pleased to announce that it has invested $18 million in Shyong Inc., a Beijing based renewable specialty chemical company. With this investment, Pan Wealth entered into a share purchase and marketing agreement with Shyong Inc. to purchase 3,960,000 common shares at $17.8 million. This will give Pan Wealth a strategic equity of 15% in Shyong Inc.'s enlarged share capital.
Shyong Inc. has a proprietary technology platform to produce a wide variety of renewable chemicals such as terpenes, steroids and their derivatives for several industries including flavor and fragrance, food ingredients and cosmetics. Most of the technologies used by Shyong Inc. are based on fermentation, allows for the creation of highly pure and renewable compounds that have previously only been available from natural resources in limited quantities.
"Our investment in Shyong Inc. will allow us to broaden our use of renewable raw materials for sustainable chemical solutions in the future and leverage our competency in investment sectors," said Mr. Harold Squire, Senior Managing Director of Pan Wealth Resources, CO. "Shyong Inc. has demonstrated the ability to produce high-quality products at scalable commercial quantities and at a lower price point, which is one of several compelling reasons to invest in it."
The Board of Pan Wealth Resources believes that, investment in this new sector is imperative in ensuring a successful and sustainable future. Pan Wealth is also confident that this strategic investment in Shyong Inc. will bring tremendous value to the company in near future.
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