AgroPages-Huilong Agro acquired a 60% stake of Hai’nan Agro-Agricultural news

Huilong Agro acquired a 60% stake of Hai’nan Agro

Recently China company Anhui Huilong Agro Group Co., Ltd (Huilong Agro) invested RMB78.29 million Yuan to acquire a 60% stake of Hai’nan Agricultural Material Co., Ltd (Hai’nan Agro), thus becoming the controlling shareholder of Hai’nan Agro.

Hai’nan Province is China’s important Crop Seed Breeding Base, Tropical Agro Base, Natural Rubber Production Base, Tropical Fruit & Winter Fruit Base, where annual fertilizer demand reaches 1.60 million tons and pesticide demand amounts to RMB700 million Yuan.

Huilong Agro believes that the acquisition of the controlling share in Hai’nan Agro will facilitate its entry into Hai’nan’s agricultural-material market at fast speed, but low cost and risk.

Huilong Agro specializes in franchise & chain store marketing of fertilizer, pesticide and seed, being the largest agro marketing enterprise in Anhui Province, not only dealing with Chinese domestic agrochemical enterprises but also acting as an agency dealer for Bayer, Syngenta and BASF.

Hai’nan Agro is one of the largest agricultural-material dealers in Hai’nan Province, mainly engaging in marketing of fertilizer, pesticide, seed, agro plastic, agro machinery and composite fertilizer. Hai’nan Agro has 3 distribution centers in its own territory, more than 360 agricultural-material chain stores, as well as a large number of customers with strong purchasing power and good faith.

In Q1of 2012, Hai’nan Agro achieved a primary income of RMB9.53 million Yuan and net profit of RMB1.59 million Yuan.