Leading global crop protection company ADAMA Ltd. today reported that it is making significant progress towards the potential cash acquisition of Jiangsu Anpon Electrochemical Co., Ltd. With 2017 sales of RMB 1,643 million (approximately $234 million) and located in Huai’An City, Jiangsu Province, Anpon is a fully backward-integrated manufacturer of key active ingredients used in crop protection markets worldwide, most notably Ethephon, Pymetrozine and Buprofezin, as well as intermediates such as chlor-alkali and other products, with advanced membrane production technology. Anpon is wholly-owned by ChemChina, ADAMA’s controlling shareholder.
In recent years, ADAMA benefited from Anpon’s strong manufacturing position, enhancing its portfolio with products and differentiated mixtures based on Anpon’s molecules. The Company has been able to build market-leading positions in major markets such as the US, India and Australia. In China, Anpon brings a portfolio of product registrations to the ADAMA product offering, as well as a domestic sales force.
Anpon is fast becoming a key part of ADAMA’s global operations, adding significant synthesis and formulation capabilities to the Company’s China operational hub. Anpon is located adjacent to ADAMA’s new global formulation facility, facilitating robust and continuous exchange of expertise and knowledge-sharing between the teams. Work at ADAMA’s state-of-the art R&D facility in Nanjing is resulting in major process improvements in the Anpon production processes.
The parties have reached initial understandings on the intended transaction and are now working towards signing of a definitive purchase agreement. Any such agreement will be subject to the requisite corporate approval procedures as well as customary closing conditions, including the receipt of all required regulatory approvals. No financial details have been disclosed at this stage.
Source: ADAMA Ltd.:
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?