Hubei Forbon Tech to acquire 55 pct stake in Holland Novochem
Forbon to acquire 55% Holland Novochem B.V. China Hubei Forbon Technology Co., Ltd. announced on August 4 that it intends to acquire a 55% interest in Holland Novochem B.V. for EUR 17.79m (RMB 112m) through its Dutch subsidiary. According to an independent financial consulting firm, as of 30 April 2015, a 55% interest in Holland Novochem B.V. is equivalent to a net book value of RMB 14.265m, which, compared to the assessed value of RMB 123m, represents a value added rate of 760.49%. Founded in 1992, Holland Novochem focuses on the research, manufacturing, and sales of fertilizer additives. The company has established close ties with multiple renowned fertilizer manufacturers in Europe and has more than 20 years of experience in this industry. Forbon Technology is China’s biggest fertilizer additive producer.
This acquisition will enable the company to capitalize on Novochem’s sales channels, service network and customer resources to increase its sales volume, net profit, and business operations. In June 2015, Forbon Technology established a cooperative and a subsidiary in the Netherlands to further expand into Europe. The cooperative, named Forbon Technology Netherlands Holdings Coöperatief U.A., and the subsidiary, Forbon Technology Netherlands B.V., will be engaged in foreign investment and trade. Forbon Technology is China’s biggest fertilizer additive producer. Forbon’s Netherlands subsidiary will help it access cutting-edge technology in Europe.