Shaoxing BSM acquires 20 stake in Ningbo Generic Chemical

摘要

Chinese agrochemical company Shaoxing BSM Chemical has acquired 20 stake in peer business Ningbo Generic Chemical. The deal amounts to Yuan 85 million ($12 million at the current rate). BSM believes that the investment signals its expansion into the global market. It claims to be the largest producer of the herbicide, pendimethalin, in China and the second largest in the world after BASF. Its annual production capacity for the active ingredient stands at 120,000 tonnes.