Two Jiangsu China-based agchem firms merge
The Chinese Ministry of Industry and Information Technology (MIIT) has published details of a merger between two agrochemical producers in the country’s Jiangsu province. Chinese chemical company Taicang Dazhong Chemical, with a registered capital of Yuan 10 million ($1.6 million), will be amalgamated into Jiangsu Lanfeng Biochemical, which has a registered capital of Yuan 74 million ($11.6 million). Jiangsu Lanfeng Biochemical was awarded a pesticide export “good faith” award by the Chinese Crop Protection Industry Association in 2010 ( Agrow No 604, p 20). Both companies are manufacturers of pesticide active ingredients. This amalgamation was the fourth and final agrochemical company merger for which details were issued by the MIIT in 2011. Jiangsu province was the leading manufacturer of agrochemicals in the first 11 months of 2011 (see this issue).