BEIJING, July 24 (Xinhua) -- Guangdong VTR Bio-Tech Co., Ltd. (VTR) (300381.SZ) announced on Monday that it is going to co-finance with Phytobiotics Futterzusatzstoffe GmbH (Phytobiotics) to set up a subsidiary in Germany.
According to the announcement, registered capital of the German subsidiary would be 1 million euros, with 510,000 euros funded by VTR.
The subsidiary will be engaged in the production, processing, repacking and sales of bio-enzyme preparation as well as technology development and service. VTR and Phytobiotics hope to enhance economic cooperation and technical exchange so as to bring satisfied economic return to both companies.
VTR claims that the investment would help the company further explore overseas markets. Through building the new overseas platform, VTR can upgrade its capacity of integrated services, market competitiveness and international reputation in the bio-enzyme preparation market. (Edited by Yang Bize)
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