Huapont Pharm, Noposion Agrochemicals to fund Heyi Chemicals

Date:01-04-2011

Chongqing Huapont Pharm and Shenzhen Noposion Agrochemicals each plan to inject 41.6 million yuan into Jiangxi HEYI Chemical, reports Shanghai Securities News, citing a Huapont Pharm filing.

After the injection, the two companies will each have 20 percent stake of HEYI Chemical, making them jointly the second largest shareholder.

HEYI Chemical develops, produces, and sells germicide and insecticide. It has annual capacity of 8,000 tons of active compounds and 10,000 tons of preparation.

According to Huapont Pharm, the investment allows the company to enter the active compound industry, enhancing its pesticide competitiveness.