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JV launched between Limin Group, SF Biochemical to enhance capability of innovation, research and development of novel pesticides
Nov. 2, 2023
Limin Chemical Co., Ltd.
ChinaFollow
ChinaSF Biochemical ChinaFollow
ChinaOn October 28, 2023, China’s Limin Group announced its plan to execute the Joint Venture Cooperation Framework Agreement with SF Biochemical in consideration of SF Biochemical’s advanced conception and rich experience in the introduction or development of novel pesticide varieties.
According to the framework agreement, Limin Co., Ltd and SF Biochemical will set up a joint venture, in which a total investment of RMB70 million will be made, with 70% being contributed by Limin Co., Ltd and 30% by SF Biochemical. After completing the contribution in cash, Limin Co., Ltd will hold 51% of the shares of the joint venture, while SF Biochemical will hold 49% of the shares.
With the start of the overall cooperation between the two parties, their competitiveness in innovation, research, and development of novel pesticide varieties will be significantly enhanced while achieving a win-win situation and sustainable development for the benefit of both parties.
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