Xingfa Group expands global reach with successful acquisition of Indonesian company
2023-10-25 18:10:55
Edited by Chen Zai, Yichang International Communication Studio
News source from Xingfa Group
On October 23, Xingfa (Hong Kong) Import & Export Co., Ltd, successfully completed the acquisition of a 70% stake in PT. Adil Makmur Fajar, an agrochemical company based in Cikupa Tangerang, Indonesia. This marks a new phase in the internationalization strategy of their parent company, Hubei Xingfa Chemicals Group Co., Ltd., the largest phosphates specialized industry in China.
PT. Adil Makmur Fajar is the first production-oriented enterprise that Xingfa Group has acquired overseas. Established in 1988, PT. Adil Makmur Fajar holds 36 trademark certificates and licenses for 42 pesticide products. Its series of Paraquat-based products account for about 10% of Indonesia’s market share. Their four Paraquat brands are well-known within this market.
Following the completion of this acquisition, PT. Adil Makmur Fajar will take advantage of the financial, technological, and managerial strengths provided by Xingfa Group to expand the influence of their Paraquat and Glyphosate products within the Indonesian pesticide market while gradually expanding toward Southeast Asia and surrounding markets.
Established in 1994, Hubei Xingfa Chemicals Group Co., Ltd. focuses on the development and manufacturing of a full range of phosphorus-based chemicals. With headquarters in Yichang City, the company has been listed in the Shanghai Stocks and Securities Market since 1999. Ranking 451st among China's Top 500 companies, their total assets amount to 29.49 billion RMB and they employ 11,500 people globally.
News source from Xingfa Group
On October 23, Xingfa (Hong Kong) Import & Export Co., Ltd, successfully completed the acquisition of a 70% stake in PT. Adil Makmur Fajar, an agrochemical company based in Cikupa Tangerang, Indonesia. This marks a new phase in the internationalization strategy of their parent company, Hubei Xingfa Chemicals Group Co., Ltd., the largest phosphates specialized industry in China.
PT. Adil Makmur Fajar is the first production-oriented enterprise that Xingfa Group has acquired overseas. Established in 1988, PT. Adil Makmur Fajar holds 36 trademark certificates and licenses for 42 pesticide products. Its series of Paraquat-based products account for about 10% of Indonesia’s market share. Their four Paraquat brands are well-known within this market.
Following the completion of this acquisition, PT. Adil Makmur Fajar will take advantage of the financial, technological, and managerial strengths provided by Xingfa Group to expand the influence of their Paraquat and Glyphosate products within the Indonesian pesticide market while gradually expanding toward Southeast Asia and surrounding markets.
Established in 1994, Hubei Xingfa Chemicals Group Co., Ltd. focuses on the development and manufacturing of a full range of phosphorus-based chemicals. With headquarters in Yichang City, the company has been listed in the Shanghai Stocks and Securities Market since 1999. Ranking 451st among China's Top 500 companies, their total assets amount to 29.49 billion RMB and they employ 11,500 people globally.
