Zhejiang Xianju Pharmaceutical's (SHE:002332) subsidiary, Newchem, will receive the complete insurance compensation worth 13.7 million euros after receiving a letter for the final payment, according to a Shenzhen bourse filing on Thursday.
Newchem obtained an insurance compensation confirmation letter, confirming that it will get 9.2 million euros.
The compensation came after an accidental fire at an oven drying area at Newchem's plant in Italy on June 26, 2024.
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