On 30 June, 2019, Hubei Forbon Technology Co., Ltd announced its plan to transfer the fertilizer additive business and other related assets and debts to its subsidiary, Hubei Forbon New Materials Co., Ltd, which will help Forbon better concentrate on the business of new fertilizer and digital agriculture.
According to the announcement, the transfer
can optimize the organization structure, improve the company’s management
efficiency, and implement the control of conglomeration. It also accommodates
the needs for future business development as well as the incorporation of
assets, in order to create module management in business. Forbon authorizes the
company’s management to deal with all the transfer of the fertilizer additive
business and other related assets and debts to its subsidiary.
In general, the transfer this time includes
fertilizing agent businesses, as well as related assets including production
lines, raw materials, packaging, material procurement distributors of
fertilizing agents, as well as relevant agreements, databases, logistic routes,
commercial information, as well as debts related to fertilizing agent businesses.
According to the data, the date for the transfer was on 31st May,
2019. Mazars estimates that the assets for this transfer have a value of no
more than RMB184 million. However, the amount of value is not yet audited.
Hubei Forbon New Materials Co., Ltd was
established in November 2017 with a value of RMB5 million as its registered
assets. The market of Forbon New Materials included producing chemical
fertilizers, and offering technologies to other chemical industries and
solutions to productions, so as to implement the application and production of
different surface active agents, as well as the marketing of different surface
active agents. The market also included seeds, pesticides as well as the
research, production and marketing of plant cultivation, water treatment and biodegradable
controlled release materials.
Hubei Forbon Technology Co., Ltd said that transferring the fertilizer additive business and other related assets and debts to Forbon New Materials would help coordinate the business management process and improve the efficiency of business management by dividing businesses into different modules, such as modern fertilizer business and digital agricultural business.
Hubei Forbon Technology Co., Ltd (Hubei Forbon Technology) is the largest manufacturer to produce fertilizer additives in China. The high-tech chemical company offers fertilizer enterprises with technologies, services and product solutions, in order to promote their different fertilizing agents. Hubei Forbon Technology has the strongest research and development team and owns various products of fertilizing agents in China. It is a partnership with many internationally recognized enterprises, such as KAO in Spain, Novochem in Holland, and PST in France.
Hubei Forbon Technology pruduces a total of
60 products, including anti-caking, coating, granulation, slow-release, froth flotation
as well as processing agents. These products are widely used in every part of
fertilizer production. Currently, the company has been developed as one of the
leading fertilizer companies in China, with its strong research and development
team, complete products, as well as its perfect system of sales service. Furthermore,
the company also ranks the top list of fertilizing agent suppliers in the
Hubei Forbon Technology serves over 260 clients in many countries all over the world including Malaysia, Philippine, Indonesia and Vietnam. It also establishes stable partnerships with 30 top 100 fertilizer enterprises. With the good reputation of its products being safe and reliable, Hubei Forbon Technology has won the title of the Best Partnership and Supplier.
For more information about China’s fertilizer market, please have a look at our monthly newsletter Phosphorus Industry China Monthly Report.