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BSM Chemical goes public in China, pendimethalin technical and formulation capacity expected to increase
Nov. 19, 2019
BSM Chemical is engaged in the research, development, production and marketing of environment-friendly pesticide intermediates, pesticide technical and pesticide formulations. In 2018, the company achieved an operating income of Yuan465 million with a net profit of Yuan77.952 million.
This time, BSM Chemical is offering no more than 30.30 million shares intended to raise funds of Yuan392.9776 million, which will be spent on pendimethalin and methoxyfenozide-related technical upgrades.
BSM Chemical’s Board Chairman, Chen Feng, said that BSM Chemical will use this public offering to push forward the research and market promotion of environment-friendly pesticides and expand the existing pendimethalin technical and formulation capacity, thus speeding up the optimization and enrichment of the product range of the company. Accordingly, the products and market share of the company will be more segmented, such that the company, in the specific market, will become a national first-class and internationally well-known pesticide and pharmaceutical intermediate and technical material and formulation manufacturer. This will allow the company to better serve the development of modern agriculture.
Shaoxing BSM Chemical is located in the national chemical industrial park in Shangyu within the Hangzhou Bay Area, Zhejiang Province. The main product of BSM Chemical is pendimethalin technical, intermediate and formulation, which is environment-friendly, highly efficient and low toxic. The company is the only pesticide manufacturer in China with the capability of a complete industry chain of research and production of pendimethalin technical, intermediate and formulation.
In the meantime, backed by its research and innovation capacity, the company has been active in the promotion of reutilization of the by-products of pendimethalin, having successfully developed a low-cost synthesis process for the production of the high-quality insecticide, methoxyfenozide, using the by-products of pendimethalin, the technical material of which has been successfully registered.
Through the use of the by-products of pendimethalin, the company has made great efforts in the research and development of new products, which have resulted in a low-cost synthesis process for the production of novel and quality pesticides such as flubendiamide and topramezone. To this end, the company seeks to form its core product range based on the leading product, pendimethalin, and supported by methoxyfenozide, flubendiamide and topramezone, which are all developed and produced via the company's complete industry chain capability.
Source: AgroNews
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