Noposion to acquire 40% stake in Jinan Leeder
The Shenzhen-based Chinese chemical company, Noposion Agrochemicals, is to invest Yuan 45 million ($6.6 million) for a 40% stake in in Chinese company Jinan Leeder Chemical. Jinan Leeder Chemical is a pesticide manufacturer with 43 Chinese pesticide registrations, 32 of which are for herbicides. The company has submitted a further 25 product registration applications, decisions on which are expected this year. In 2009, Jinan Leeder recorded sales of Yuan 79.3 million($11.6 million at the current rate) and made a loss of Yuan 875,800 ($128,000).