Analysts said the deal would expand Sinochem's manufacturing facilities of pesticides and herbicides, as well as extend its overseas network. Sinochem Corp. (Sinochem), the country's leading agrochemicals producer, has agreed in principle to buy Australia's Nufarm Ltd. for 2.8 billion Australian dollars (2.44 billion U.S. dollars), in a move to expand its farm chemicals business overseas, China Daily reported Tuesday.
Sinochem Monday signed agreements with Nufarm, under which the company would offer 13 Australian dollars per Nufarm share, the newspaper said, citing a statement of the Australian company. The price is a near 17-percent premium to Nufarm's last traded price.
The acquisition of Nufarm, should it proceed, is consistent with Sinochem's strategy to become a leading global company in the total crop protection value chain including research and development, production, distribution and services, the newspaper said, citing Sinochem's statement.
The deal is subject to approval from regulators in both China and Australia, Nufarm shareholders, the Australian court and to no material adverse investment chinachange in Nufarm's business prior to completion of a transaction.
Sinochem is being assisted by the Royal Bank of Scotland as financial adviser and Blake Dawson as legal adviser.
Analysts said the deal would expand Sinochem's manufacturing facilities of pesticides and herbicides, as well as extend its overseas network. Dai said a planned complex with Kuwait Petroleum Corp may cost 53 billion yuan. The project, which will consist of a 15-million-ton-a-year refinery and a 1-million-ton-a-year ethylene plant, will be built in Zhanjiang, Guangdong Province.
Sinopec also plans a 10-million-ton-a-year refinery and a 1-million-ton annual capacity ethylene plant in Caofeidian in Hebei Province, he said.
BASF said in a separate statement it plans to complete a plant for MDI, used to make polymers in refrigerators and shoes by 2013. The Chongqing plant is expected to be in operation by early 2014.
The deal is subject to approval from regulators in both China and Australia, Nufarm shareholders, the Australian court and to no material adverse investment chinachange in Nufarm's business prior to completion of a transaction.
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The Cosmetic Ingredient Review (CIR) Expert Panel is an independent, industry-funded panel of medical and toxicology experts that meets quarterly to conduct safety assessments of cosmetic ingredients and publishes its findings in peer-review journals. FDA participates in the CIR in a non-voting capacity
There are many nail productsnail productson the market. It is important to know how to use them safely. As with any cosmetic product, follow the labeled directions carefully and pay careful attention to any warning statements. The following information will answer commonly asked questions about some nail products and ingredients.
How Nail Products Are Regulated
Nail products for both home and salon use are regulated by the Food and Drug Administration. Under the (FD&C Act), these products are cosmetics [FD&C Act, section 201(i)].
By law, nail products sold in the United States must be free of poisonous or deleterious (harmful) substances that might injure users when used as labeled or under the usual or customary conditions of use (Many nail products contain potentially harmful ingredients, but are allowed on the market because they are safe when used as directed. For example, some nail ingredients are harmful only when ingested, which is not their intended use.
The labels of all cosmetics, whether marketed to consumers or salons, must include a warning statement whenever necessary or appropriate to prevent a health hazard that may occur with use of the product Cosmetics sold on a retail basis to consumers also must bear an ingredient declaration, with the names of the ingredients listed in descending order of predominance. The requirement for an ingredient declaration does not apply, for example, to products used at professional establishments or samples distributed free of charge. However, the requirement does apply if these products are also sold at retail, even if they are labeled "For professional use only"
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