Hunan Haili to acquire Chinese pesticide research base
Chinese company Hunan Haili Chemical Industry is planning to purchase a 100% stake in the pesticide research institute, Hunan Research Institute of Chemical Industry (HRICI). Both institutions are based in the central Chinese province of Hunan. Hunan Haili will use some Yuan 131.8 million ($21.1 million) of its own funds to acquire the company as a wholly owned subsidiary. Haili says that HRICI is an “important centre” for the production of carbamate pesticides, and a national base for pesticide discovery. HRICI is one of China’s four leading pesticide research institutes, and is responsible for the recent development of HNPC-A9908, a synthetic pyrethroid, and HNPC-C9908, a sulfonylurea herbicide (Agrow No 660, pp VI-IX). HRICI had revenues of Yuan 49 million ($7.8 million) in 2013.