Sanonda released restructure draft plan

By CnAgri2012-06-28 11:14:23 Print

Sanonda released its restructure draft plan recently, it was going to buy 80.93% stake of Jiangsu Anbang, and 70% stake of Jiangsu Huaihua by means of private placement from its actual controller, China National Agrochemical Corporation. Meanwhile, the private placement would also raise 239m Yuan. Jiangsu Anbang, its main business was fine chemicals like chlor-alkali, pesticide and o-Toluidine, and its sales turnover and net profit hit 1.756b Yuan and 51.44m Yuan respectively. While Jiangsu Huaihua, its main business was nitrotoluene, o-Toluidine and pesticide materials, whose sales turnover and net profit was 1.212b Yuan and net profit 15.27m Yuan.

From "China Pesticide Market Monthly Report"