Two more Chinese agchem firms merge
China's Ministry of Industry and Information Technology (MIIT) has published details of the sixth agrochemical merger involving domestic pesticide companies to take place this year. The Chinese pesticide formulator, Shanxi Lvzhou Agricultural Technology, with a registered capital of Yuan 5.1 million ($800,000 at the current rate), will be amalgamated into Gansu Huashi Agrotech. Gansu Huashi has a registered capital of Yuan 20 million ($3.2 million), and manufactures pesticide technical material based in China’s north-western province of Gansu. Chinese authorities are encouraging such mergers and acquisitions in an effort to increase the global competitiveness of its pesticide industry and cut the number of pesticide companies by 30% before the end of 2015 ( Agrow No 627, pp22-23).