Xingfa acquired 70% of the equity of AMCO in Indonesia

 On October 23, Xingfa Group released news that Xingfa Hong Kong, a wholly-owned subsidiary of the company, successfully acquired 70% of the equity of AMCO Company in Indonesia and has now completed the equity transfer work. Indonesia AMCO Company is the first manufacturing enterprise acquired by Xingfa Group overseas. The completion of equity acquisition marks a new stage of Xingfa Group's internationalization strategy.

Established in 1988, the company is located in Tangerang District, Banten Province, Indonesia, with a registered capital of 65.4 billion Indonesian rupiah. The company has 5 departments, namely sales department, purchasing department, production department, finance department and general office, with 121 employees. Indonesia AMCO has a total of 36 trademark certificates and 42 pesticide product licenses, the company has built i production lines of herbicides, insecticides, fungicides, plant growth agents, acaricides and snail insecticides.

AMCO's Paraquat series products occupy 10% of the market share in Indonesia, and the 4 paraquat brands held by AMCO are well-known brands in the Indonesian market. With 45% paraquat TK design capacity of 5,694 tons, its production in 2022 reached 4,126 tons, capacity utilization rate of 72.47%. Formalation  filling capacity of 21,900 t/a, with 1 liter, 5 liters, 20 liters of automatic packaging lines.

Xingfa Group said that after the completion of the acquisition, the Indonesian AMCO company will rely on the capital, technology and management advantages provided by Xingfa Group, continue to deepen the Indonesian Paraquat and Glyphosate AJ business, continue to expand the company's influence in the Indonesian pesticide market, gradually radiate to Southeast Asia and surrounding markets, and make greater contributions to the internationalization strategy of Xingfa Group.