Huifeng acquires 53% stake in Jiangsu Jialong
Chinese listed company Jiangsu Huifeng Agrochemical has purchased a 53.25% stake in Chinese company Jiangsu Jialong Chemical. Huifeng Agrochemical acquired the stake with Yuan 125.4 million ($20.1 million at the current rate) of its own funds. Jialong Chemical holds 67 pesticide registrations, of which 11 are for pesticide technical material. Huifeng says that it intends to make use of Jialong’s 20,000 tonnes/year phosgene plant to help reduce agrochemical manufacturing costs. Among Jiangsu Huifeng’s main products are the fungicides, prochloraz and epoxiconazole, and the herbicide, bromoxynil. The company has in recent years expanded its prochloraz and epoxiconazole production (Agrow No 671, p 5).