Sep. 12, 2018
announced that it had spent 4.37136264 million yuan to acquire 42.77% stake in Jiangxi Heyi Chemical.
Until the end of June 2018, Nutrichem held 57.22% stake in Heyi Chemical. Upon completion of this acquisition, Nutrichem will now hold 99.99% stake in Heyi Chemical.
Founded in October 2005, Heyi Chemical is engaged in the research, production and sales of pesticide technical, intermediates and formulations. Its main products include ethirimol, dithianon, cyromazine, copper chloride, iprodione, dimethachlon, procymidone, sulfentrazone, 3,5-dichloroaniline, 3,4-dichlorobenzotrifluoride. Heyi Chemical went public in NEEQ in November 2015.
According to its 1H 2018 semiannual report, Heyi Chemical achieved a business income of 197 million yuan and an operating profit of 45.1411 million yuan in the first half of 2018.