Russia’s Acron sells 50.5% in Hongi Acron to Hong Kong investor

MOSCOW, Aug 3 (PRIME) -- Fertilizer producer Acron sold its entire stake of 50.5% in Russian–Chinese chemical company Hongri Acron to an independent investment and industrial company from Hong Kong on Tuesday, Acron said in a statement on Wednesday.

Alexander Popov, head of Acron’s board of directors, said, “We have decided to sell the stake in Chinese plant Hongri Acron and focus on development of our production sites in Russia in line with the long-term strategy of Acron Group.”

China will remain one of company’s core partners, and Acron plans further expansion of its own distribution network Yong Sheng Feng in the country, he said.

Acron, one of world’s leading producers of mineral fertilizers, sold 6.3 million tonnes of products in 60 countries in 2015.

End