Huapont-Nutrichem, Albaugh sign investment agreement

decrease font size  Resize text   increase font size       Printer-friendly version of this article Printer-friendly version of this article

The America agchem company Albaugh, LLC and Chinese company Huapont-Nutrichem Co. Ltd., and Nutrichem Company Ltd, a wholly-owned subsidiary of Huapont, announced that Albaugh, Huapont and Nutrichem USA, have entered into a definitive unit purchase agreement. 
 
Pursuant to the Unit Purchase Agreement, Huapont, through Nutrichem USA, will invest in and acquire 20% of the voting units and non-voting units of Albaugh for an aggregate cash consideration of US $220 million. 
 
Commenting on the acquisition, Zhang Songshan, Chairman of Huapont, said, "Albaugh is a strong competitor in the agrochemical markets in the Western Hemisphere. We are excited about the ongoing prospects for growth in Albaugh and to be a part of that growth into the future." 
 
Dennis Albaugh, founder and Chairman of Albaugh, said, “This transaction establishes a strategic relationship between Albaugh and one of its key suppliers of active ingredients, and we hope to utilize our combined expertise in product development and registration to continue growing our business for the benefit of our customers and the shareholders of both companies.” 
 
The board of managers of Albaugh, the board of directors of Huapont and the sole director of Nutrichem USA unanimously approved the signing of and entry into the Unit Purchase Agreement respectively. The acquisition, which is currently expected to close before year-end, is subject to customary closing conditions, including the approval of Huapont’s shareholders, the approval of China National Development and Reform Commission, U.S. regulatory notifications and waiting periods, regulatory clearances in other relevant jurisdictions, and the other closing conditions specified in the Unit Purchase Agreement. 
 
Huapont-Nutrichem Co. Ltd. is a fast-growing listed pharmaceutical and agrochemical manufacturing company.  Nutrichem Company Ltd.,a wholly-owned subsidiary of Huapont-Nutrichem,  is a leading high-tech company and top exporter of agrochemicals in China.  Huapont-Nutrichem achieved sales of agrochemcials $478.9 millions in 2012, ranking the 16th in Agropages' Top 20 agchem companies of 2012
 
Albaugh, LLC is the largest global privately-held producer of off-patent herbicides, fungicides, insecticides and plant-growth regulators, mainly for the Americas but also for the international market. Albaugh has leading market positions in four of the most widely-used off-patent agrochemicals worldwide: glyphosate, 2,4-D, atrazine and dicamba.

Buyers Guide

Doyle Equipment Manufacturing Co.
Doyle Equipment Manufacturing prides themselves as being “The King of the Rotary’s” with their Direct Drive Rotary Blend Systems. With numerous setup possibilities and sizes, ranging from a  more...
A.J. Sackett Sons & Company
Sackett Blend Towers feature the H.I.M, High Intensity Mixer, the next generation of blending and coating technology which supports Precision Fertilizer Blending®. Its unique design allows  more...
R&R Manufacturing Inc.
The R&R Minuteman Blend System is the original proven performer. Fast, precise blending with a compact foot print. Significantly lower horsepower requirement. Low inload height with large  more...
Junge Control Inc.
Junge Control Inc. creates state-of-the-art product blending and measuring solutions that allow you to totally maximize operating efficiency with amazing accuracy and repeatability, superior  more...
Yargus Manufacturing
The flagship blending system for the Layco product line is the fully automated Layco DW System™. The advanced technology of the Layco DW (Declining Weight) system results in a blending  more...
Yargus Manufacturing
The LAYCOTE™ Automated Coating System provides a new level of coating accuracy for a stand-alone coating system or for coating (impregnating) in an automated blending system. The unique  more...
John Deere
The DN345 Drawn Dry Spreader can carry more than 12 tons of fertilizer and 17.5 tons of lime. Designed to operate at field speeds up to 20 MPH with full loads and the G4 spreader uniformly  more...
Force Unlimited
The Pro-Force is a multi-purpose spreader with a wider apron and steeper sides. Our Pro-Force has the most aggressive 30” spinner on the market, and is capable of spreading higher rates of  more...
BBI Spreaders
MagnaSpread 2 & MagnaSpread 3 — With BBI’s patented multi-bin technology, these spreaders operate multiple hoppers guided by independent, variable-rate technology. These models are built on  more...


Comments (0) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left


Demco 1400 Grain Cart

Demco offers a 1400 bushel grain cart to provide unmatched efficiency and operator convenience. In addition to the large 1400 ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form