Agronova International Inc. – Acron’s U.S.-based subsidiary – completed the registration of acquisition of Beijing Yong Sheng Feng Agricultural Means of Production Co., Ltd., a Chinese-based company licensed by the state to distribute in China mineral fertilisers, both imported and domestically produced, and to sell other chemicals. All licenses and approvals required for a foreign-invested company have been obtained. Yong Sheng Feng has direct contracts with wholesale and retail fertiliser distributors all over China.
Alexander Popov, the chair of Acron’s Board of Directors, commented on the deal: “This acquisition will allow Acron to further strengthen its position in China, the largest fertiliser market in the world. Through Yong Sheng Feng, we can supply our products to China, position and promote them, and render related services to distributors and farmers. Moreover, we can bring third party producers of fertilisers, both local and international, to our Chinese distribution network.”