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CNADG to acquire Henan Yingtai 51% share
Aug. 26, 2014
China National Agricultural Development Group Ltd. (CNADG) recently announced that the company plans to issue shares and cash payment to acquire no less than 51% of the shares of Henan Yingtai Agrochemical Ltd, hold by independent third party.
Being a state-owned seed enterprise, CNADG has integrated seeds platform for field crops. After the acquisition, the company expects to expand agrochemical business unit, improve the overall operating performance and profitability, and implement to lay the foundation for "Seeds, agrochemical and fertilizer Integration Strategy". The sales of CNADG in 2013 amount to Yuan 2.5 billion, with net profit of Yuan 42.7 million.
Found in 2005, Henan Yingtai Agrochemical engaged in production, sales and trade of 6-ethyl-o-toluidine, acetochlor and 2,6-diethylbenzenamine. Aiming to build as the nation’s largest amide herbicide technical production base, the company initiated projects in 2013 to annually produce 20,000 tones of metolachlor, 10,000 tones of butachlor, and 5000 tones of pretilachlor.
Source: AgroNews
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