AgroPages-Sinochem International to acquire Pesticide Research Ltd of Shenyang Chemical Research Institute to fill up its research gap in agrochemical industry-Agricultural news

Sinochem International announced on October 14 that it would spend 159.9977 million yuan to acquire 100% stakes in the Pesticide Research Ltd. of Shenyang Chemical Research Institute, via a takeover of the debt of the targeted company.

Sinochem International is the only Chinese enterprise in possession of the high-end pesticide brand, holding a dominant position in the Chinese premium pesticide market. It has set up a complete marketing network and customer service system, which consist of more than 100 regional distributors and 2,000 primary dealers. It has also got 2 business platforms, namely Yangnong and Jiangshan. However, there is a research gap in its agrochemical industry.

The Pesticide Research Ltd. of Shenyang Chemical Research Institute has a 60-year development history, being a very influential research institution in China's pesticide industry. It has an established national pesticide engineering center (Shenyang) and a national novel pesticide creation lab. It is China’s only pesticide research institute that is engaged in the development of a full range of pesticide covering new compound design and synthesis, production process development, pesticide formulation production, biological activity assay and safety assessment. It is also China’s largest dedicated pesticide research institute, which guides China’s pesticide technical advancement and development to a certain extent.

The acquisition of the Pesticide Research Ltd. fills up the research gap in the agrochemical industry of Sinochem International. The acquisition is an injection of motive force into the agrochemical product development and business extension of Sinochem International. After the merge, the Pesticide Research Ltd of Shenyang Chemical Research Institute can use the advantage of the rich industry resource, customer portfolio and marketing experience of Sinochem International to establish a scientific market-driven research and development system. The integration of the two companies will also develop a solid foundation for the accelerated agrochemical industry development of Sinochem International.