Chengdu Hoist Selling Animal Health Business
by Richard Daverman, PhD
July 18, 2012 -- Chengdu Hoist Inc. is getting out of the veterinary biological business. The company said the animal health segment no longer made economic sense due to rising labor and raw material costs. In 2011, animal health produced about 11 million RMB ($1.7 million) of revenue and 2.4 million RMB ($387,000) of cash flow for Chengdu Hoist. In addition to its building construction activities, Chengdu Hoist makes TCM and Western drugs, including biological products. More details....
Stock Symbol: (SHE: 000790)