Rainbow expects growth in Central America
Rainbow Agrosciences, the Central American subsidiary of Chinese agrochemical company Shandong Weifang Rainbow Chemical, expects its annual turnover in the Central American and Caribbean region to exceed $25 million in 2013, with minimum annual revenue growth of 20% in the next fiscal year. The company, which has been operating for two years and mainly sells Rainbow's own pesticide formulations, attributes expected growth to an increased customer base and new product launches. "We are currently the biggest Chinese supplier in this region but our long-term goal is to become the preferred and right business partner for all our customers," says Michael Groos, director general for Central America and the Caribbean. Rainbow Chemical was ranked seventh in this year’s ranking of the top 100 Chinese agrochemical companies, with 2012 sales of Yuan 2,040 million ($333 million - Agrow No 675, p 19).