Sipcam-Oxon acquires stake in Taizhou Bailly
Sipcam-Oxon (Milan) has acquired a minority stake in the Chinese chemical company, Taizhou Bailly. It manufactures agrochemical active ingredients and chemical intermediates. Sipcam managing director Giovanni Affaba welcomes the move. “This acquisition is part of Oxon’s strategic plan and will allow Oxon to further extend its integration in the manufacturing area … [and] improves Oxon’s global activities to develop generic products of interest for the worldwide market,” he says. The managing director of Taizhou Bailly, Miao Jinfeng, says the deal allows Taizhou greater international reach. “We expect to grow thanks also to the solid experience gained in the last few years with Sipcam-Oxon that boosted the consolidation and growth of another joint venture, Sulichem.” Sipcam agreed a Chinese joint venture with an unnamed company last year ( Agrow No 577, p 2).