Four Chinese agchem companies merge
China's Ministry of Industry and Information Technology (MIIT) has issued its second list of company mergers for 2013. The list contains two mergers. The first is the amalgamation of Chinese company Anhui Xiyangyang Agristuff Chain, with a registered capital of Yuan 30.7 million ($4.9 million at the current rate), into Anhui Huaxing Chemical, with a registered capital of Yuan 293.9 million ($46.7 million) and whose name will not change. The former company is a manufacturer of pesticide formulations, while Anhui Huaxing is a large glyphosate herbicide manufacturer. Anhui Huaxing Chemical forecast net profit of between Yuan 110 million ($17.5 million) and Yuan 112 million ($17.8 million) for 2012, over 28 times its 2011 figure ( Agrow No 657, p 15). The second merger will see Changzhou Plant Medicine Factory, with a registered capital of Yuan 5 million (<$1 million), amalgamate into Anhui Jiatiansen Agrochemical, with a registered capital of Yuan 10.8 million ($1.7 million). Both companies are pesticide formulators.