News Column

Huapont-Nutrichem to Control 20% of Albaugh

August 18, 2014

CHONGQING, August 18, SinoCast -- Huapont-Nutrichem (SZSE: 002004) gained approval from shareholders to acquire 2,500 voting shares and 22,500 non-voting shares of US-based Albaugh, LLC for USD 220 million. After the deal, it will hold 20% of voting and non-voting shares of Albaugh.

Albaugh is one of the biggest non-patent agricultural chemical product producers in the US. In the glyphosate and 2,4-D sectors, it ranks No.2 globally after Monsanto and Dow Chemical, each.

Huapont-Nutrichem has grown into the biggest exporter of pesticide technical materials in China and ranked No.1 in China by agricultural chemical sales revenue in 2012 and No.16 globally. It plans to buy more into the US firm in the future.

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Source: Sinocast Metals, Mining & Chemicals Beat (China)

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