Published by: Agropages
Date: 2019-10-22
Source: http://news.agropages.com/News/print-32531.htm
Some time ago, Yangnong Chemical announced a cash acquisition of 100% stake in Sinochem International Crop Care Co., Ltd and 100% stake in Shenyang Sinochem Agrochemicals Research and Development Co., Ltd, as being held by Sinochem International, at a cost of Yuan913 million.
Recent information showed that the equity change in Sinochem International Crop Care Co., Ltd was registered with the relevant government authority on September 29, 2019, and that of Shenyang Sinochem Agrochemicals Research and Development Co., Ltd was registered on October 8, 2019, indicating the completion of the transaction. After the completion of the equity change, the entire stock equity is now being held by Yangnong Chemical.
At the end of the closing, Sinochem International Crop Care Co., Ltd and Shenyang Sinochem Agrochemicals Research and Development Co., Ltd have become wholly-owned subsidiaries of Yangnong Chemical. The company is set to consolidate its pesticide business assets so as to form a perfected industry chain covering the research, production and marketing of a full-range product mix. Via consolidation of research and marketing resources, as well as with the advantages of product and customer complementarities, Yangnong Chemical expects to achieve a synergistic effect and expand its market share, which will further enhance the reputation and influence of the company at home and abroad.
(Agropages)