Anhui Huaxing in Chinese agchem merger
The Chinese Ministry of Industry and Information Technology has published details of the second Chinese pesticide company merger of 2011. The merging companies are: Anhui Huaxing Chemical, which has a registered capital of Yuan 293.9 million ($46.1 million), and Kajo Agrochemical, with registered capital of Yuan 15 million ($2.4 million). Both companies are manufacturers of pesticide active ingredients. The latter will be amalgamated into Anhui Huaxing Chemical, whose name will not change. Anhui Huaxing made an operating loss of Yuan 11.4 million ($1.8 million) in the first half of the year ( Agrow No 624, p 17). The first merger took place in March ( Agrow No 612, p 21).