Oct. 14, 2013
Sinochem recently acquired 0.06% stake in Yangnong Chemical Group via Jiangsu Jinmao Chemical, thus having reached a total 40.59% ownership of Yangnong Chemical Group on top of the previous 40.53% ownership via its controlled subsidiary Sinochem International, which enables Sinochem to become the ultimate controlling owner of Yangnong Chemical Group.
Pesticide and chemical business have always been one of the main business activities of Sinochem. Over recent years, Sinochem has endeavored to strengthen the establishment of the key chains of pesticide and chemical business. Meanwhile as an industry leader in China’s fine chemicals and pesticide, Yangnong Chemical Group possesses a strong business foundation, rich experience and outstanding research capacity, being a right partner to Sinochem for cooperation in promotions of fine chemicals and pesticide industrialization.
Sinochem International, the controlled subsidiary of Sinochem achieved an annual turnover of Yuan 1.378 billion( $ 225 million at the current rate) in 2012, ranking No.15 among the Top 20 Chinese Agrochemical Enterprise of Agropages