Think Real News


Think Real press releases and industry coverage

Nantong Jiangshan to acquire 67% stakes in Harbin Linmin for USD30.2 million

On Aug 28, 2019, Nantong Jiangshan Agrochemical & Chemicals Co., Ltd. (Nantong Jiangshan) issued a supplementary announcement on acquisition of 67% stake equity of Heilongjiang Harbin Linmin Agricultural Technology Co., Ltd. (Harbin Linmin). According to the announcement, the company plans to acquire a 67% stake of downstream client Harbin Linmin, namely Honourich International Investment Ltd, with a total payment of USD30.2 million (RMB214.0 million).


The acquisition will enrich the formulation product portfolio, which will expand sales capacity and market size of the company, and drive a long-term growth and profitability, according to Nantong Jiangshan.


In fact, Nantong Jiangshan signed letter of intent to acquire Harbin Linmi on Dec 17, 2018. According to the information, the two companies have been working together for many years before the acquisition. Harbin Limin purchases herbicides from Nantong Jiangshan every year, such as acetochlor TC, butachlor TC and glyphosate TC.


According to the financial statement, total assets of Harbin Limin were USD34.1 million (RMB242.0 million) by the end of 2018. The revenue of the company reached USD28.5 million (RMB202 million) in 2018, with net profit of USD4.9 million (RMB34.9 million).


Northeast China, a main crops producing region of soybean, corn and rice, is one of the priority development areas of Nantong Jiangshan pesticide formulations due to its broad prospects in pesticide market.


Harbin Limin is one of the influential pesticide formulation production and marketing enterprises in northeast China. With its loyal customer base and good brand reputation over the years, Harbin Limin maintained stable operating performance and that’s the main reason for Nantong Jiangshan to acquire the stakes.


Following the completion of the acquisition, the company can be enriched the product portfolio, the company will be closer to the end market of Northeast China and then reduce logistics costs, according to Nantong Jiangshan.


It is worth mentioning that Nantong Jiangshan will set out to evaluate the acquisition of remaining 33% stake in Jan 2022, the delivery and payment are expected to complete before 30 June, 2022.


We will continue to focus on the main business, at same time, increase R&D spending to develop the competitive and profitable products,” Nantong Jiangshan said, “we will strive to environment control and build a resource saving and environment friendly business.


Jiangsu Flag CCPIA Registration Export and Import GM Hunan Haili corn Rotam ADAMA Sinochem Jiangsu Changqing Hubei Sanonda Hubei Xingfa NEEQ Veyong Bio-Chemical MOA Jiangsu Lanfeng Arysta paraquat soybean Xanthan gum wheat Glufosinate-ammonium pests & diseases dicamba Winall Hi-Tech Jiangsu Jiujiujiu Pests and Diseases carbendazim Policy Meihua Bio Lianhetech Zhejiang Wynca Metaflumizone Henan Lotus Sugar wheat head blight NATESC Noposion QHT glyphsate CNSA Lianhe Chemical Environmental Protection Sino-Agri 草甘膦 Nantong Jiangshan glyphosate Baolingbao Jiangsu Yangnong Longlive Biotechnology Nanjing Redsun pesticides Fuhua Group RedSun environment protection Hailir IPO lysine Limin Chemical 百草枯 Export Weifang Rainbow Fengle Seed DowDuPont spodoptera frugiperda Huapont-Nutrichem Market Dynamic Mancozeb Fufeng Group ICAMA Nutrichem Bayer Lier Chemical CAS Hebei Veyong pyraclostrobin Jiangsu Huifeng BASF Price Shenzhen Noposion Anhui Guangxin pesticide Project Dynamic Zhongnongfa Seed Sino-Agri Leading wheat scab Yongnong BioSciences CAAS Zhongbao Lvnong Fall armyworm MEP Sanonda Chlorpyrifos ABA Chemicals Jiangsu Kwin Shandong Qiaochang Seed Sipcam Qingdao Hailir VB2 Shenghua Biok Crop and Seed Zhejiang Xinnong Huaheng Biotechnology Xiwang Food MIIT Jingbo Dow AgroSciences Company Dynamic Bayer CropScience Syngenta Insight Output MOFCOM Nippon Soda COFCO Biochemical Registration Monitor DuPont ABACHEM ChemChina Shandong Luba Project Monitor FMC MARA CAC JPRI Longping High-Tech Beijing Yoloo Azoxystrobin Sichuan Hebang Star Lake Bioscience Fuhua Tongda Imazamox