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(Yicai Global) Dec. 20 -- A fire broke out at the headquarters of Shandong Rike Chemical Co. [SHE:300214] that killed seven and injured four, with the cause still under investigation.
The blaze began yesterday morning in the company's plant in the Changle Economic Development Zone in Weifang, in China's east-central Shandong province. The fire has now been extinguished, the city government announced. The company offered no explanation for the accident.
Rike Chemical's stock suspended trading at noon yesterday after its share price dropped 1.13 percent to CNY6.14 per share (USD0.93) at the close.
Formed in 2003, Rike Chemical mainly deals in plastic products and researches, develops, makes and sells new materials. Its overall production is up to 200,000 tons each year, per the company website.