On June 29, 2015, Rainbow signed an investment and shareholding agreement with Green Crop, an Argentine company. Recently Rainbow made relevant payments and acquired the equity of Green Crop according to the agreement and has become a controlling shareholder of Green Crop.
Green Crop was founded by the end of 2008. Located in Buenos Aires, Argentina, Green Crop owns registration of 20 own brands and local sales business. In 2013, the company acquired Dicopack, a local formulation factory. After acquiring the factory, Green Crop started to provide formulation processing services to local agrochemical companies through the factory. The factory is located in the industrial park in Gualeguaychu, Argentina, which enjoys a favorable geographical location for exports to Uruguay, Paraguay and Brazil.
After the investment is concluded, Rainbow will introduce its excellent R&D system of agrochemical formulation, formulation processing and manufacturing process management and quality control system to Green Crop; in the meantime, Green Crop will focus efforts on formulation process to provide more professional high-quality formulation processing services to Argentina and even the whole Mercosur.
After the investment is concluded, Green Crop will make further investment in the following aspects:
1. New laboratories for quality control and formulation R&D;
2. Upgrading the existing formulation production line;
3. Increasing the production capacity of the current production line;
4. New production lines for more formulation types such as SC, WG and CS.
Green Crop will focus on custom-made formulation R&D, quality and cost control and quick response so as to meet the demands of different clients. Green Crop strives to become a world-class formulation factory and the first partner choice of agrochemical companies in South America for formulation processing.
Before the investment, Rainbow already invested in a formulation factory in Panama. The formulation factory in Panama will mainly focus to meet the demand in Middle America, the Caribbean region and the Andes region, while Green Crop will mainly satisfy the demand in South America. The investment in Green Crop will provide strong support for Rainbow’s global manufacturing, supply, logistics and costs.
