Oct. 27, 2017
announced that it had spent Yuan9.895 million to purchase some 2,301,300 individually held shares of Jiangxi Heyi Chemical Ltd recently, which accounted for 1.315% of the total equity of Heyi Chemical.
With the completion of the purchase, Nutrichem directly holds 36.6147% of the stakes in Heyi Chemical and Zhang Songshan, and the board chairman of Nutrichem becomes the actual controlling stakeholder of Heyi Chemical. The announcement mentioned that the purchase of shares was in line with the long-term strategic development of the company, which would enhance the business strength and competitive edge of the company for the benefit of sustainable development and prospects.
Heyi Chemical was founded in October 2005, specializing in research, production and sales of pesticide technical, intermediates and formulations. Its main product varieties include ethirimol, dithianon, cyromazine, copper oxychloride, iprodione, dimethachlon, procymidone, sulfentrazone, 3,5-Dichlorobenzenamine and 3,4-Dichlorotrifluorotoluene, of which ethirimol is registered in China by Heyi Chemical, exclusively.