Nanjing Redsun acquire three agrochemical companies in China

Nanjing Redsun to acquire three agrochemical companies in China

3:50 PM, 9th August 2011
Nanjing Redsun to acquire three agrochemical companies in China


NANJING, CHINA: Nanjing Redsun has raised 2 billion Yuan to acquire three Chinese agrochemical companies owned by NFPG: Nanjing Biochem, Anhui Biochem and Redsun Trading. The acquisitions will help Nanjing Redsun in building an integral system of intermediates, technical ingredients and formulation products in pyridine, pyrethroids and hydrocyanic acid business.

The China Securities Regulatory Commission (CSRC) has approved a private refinancing plan regarding Nanjing Redsun’s private placement to Nanjing First Pesticide Group (NFPG). Nanjing BioChem and Anhui BioChem are manufacturers mainly engaging in agrochemical and related intermediates such as paraquat, diquat, pyridine, trichloropyrid and PMIDA and they each earned net profit of 1200 million Yuan and 1760 million Yuan last year. Redsun Trading is a trading company mainly engaged in agrochemical, seeds and agricultural machinery business.

The former largest share holder of Nanjing Redsun, Redsun Group, will additionally offer 227 million shares at 9.18 Yuan per share to NFPG, who indirectly controls Nanjing Redsun through holding 49 per cent shares of Redsun Group, making NFPG a 44.75 per cent owner and largest owner of Nanjing Redsun. After the private offering, Nanjing Redsun is expected to be the largest agrochemical company in China.

© WOC News




Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Air Products bags Shell hydrogen supply contract in Texas

  ALLENTOWN, US: Air Products has signed a long-term agreement with Shell Oil Company for supply of hydrogen at Shell’s Deer Park, Texas r ...

Read more
American Chemical Society names Geri Richmond a 2011 Fellow

  EUGENE, US: The American Chemical Society’s 2011 class of ACS Fellows includes University of Oregon, Chemist, Geraldine “Geri&rdqu ...

Read more
BHP Billiton to acquire HWE Mining subsidiaries for $735 million

  MELBOURNE, AUSTRALIA: BHP Billiton agreed with Leighton Holdings to acquire HWE Mining subsidiaries that provide contract mining services to i ...

Read more
Shaw receives $32.5 million arbitration award

  BATON ROUGE, US: The Shaw Group Inc received an arbitration award of approximately $32.5 million for a contract previously executed by its pow ...

Read more
DuPont to recall, stop selling herbicide Imprelis

  DELAWARE, US: DuPont said it plans to stop selling and recall its widely used Imprelis herbicide (active ingredient: aminocyclopyrachlor) afte ...

Read more
University of Virginia researchers uncover new catalysis site

  CHARLOTTESVILLE, US: Catalysts are used for a broad variety of purposes, including the conversion of petroleum and renewable resources into fu ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X