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City of Linyi Recognizes Hongri Acron Leadership

The Chairman of Hongri Acron’s Board of Directors, Dmitry Golubkov, was named Person of the Year in Linyi (People’s Republic of China). This is the first time that the foreign head of a joint venture has received the award.

Acron was the first foreign company to establish a joint venture in China when it opened Hongri Acron to produce mineral fertilisers in 2002 . Hongri Acron’s success story is unique. Statistics have shown that most joint ventures in China fail to operate efficiently. In contrast, within five years Acron spurred its joint venture to achieve considerable economic progress that has been recognised by the government. Hongri Acron has expanded into new production facilities and seen its profit increase. In 2007, the Company’s revenues grew by close to a factor of four, reaching USD 450 million.

“It took our company some time to achieve success,” Dmitry Golubkov said. “It was not easy to build relationships between Russian and Chinese experts, and the adaptation process was difficult. Eventually we proved that Acron was a serious investor and an honest and reliable partner that meets its obligations.”

Chinese authorities have officially recognised Hongri Acron’s success on two occasions, presenting it with honourary awards. At the end of 2007, Mayor of Linyi Zhang Shaojun awarded Golubkov with a Certificate conferring on him the title of “Honourable Citizen of the City,” and in January 2008, Hongri Acron’s Chairman received another honour when he was named “Person of the Year.”
Linyi is the largest industrial centre in China with a population of over 11 million people.