Dsm Missed The Joint Venture Ended In North China Pharmaceutical

The introduction of Jizhong Energy The local state owned enterprises in new shareholders, the North China Pharmaceutical Group and the Dutch DSM for 5 years finally told a joint venture negotiations end, had reached a joint venture agreement is no longer effective.

2004 DSM announced a strategic partnership between North China Pharmaceutical wishes, and early this year with the signing of the nutrients (vitamins) and anti-infective areas to establish a joint venture contract. But now a large reversal of heaven and earth.

“Chinese medicine have changed the ownership of their development for the future with new ideas, so the original framework of the joint venture is difficult to continue. However, DSM will continue to look at China Cooperation Partners, this will not change. “November 2, DSM area told reporters.

Protracted joint Road 11 2, DSM told reporters confirmed that the company has been suspended with the China Pharmaceutical Group in China to set up the field of nutrition and anti-infectives joint venture contract. Awful Medicine World’s most protracted case of foreign cooperation in the end of this announcement.

2005, the China Pharmaceutical Group announced three levels of DSM for overall cooperation. Since then, the case of the pile joint venture has not been approved by the State Development and Reform Commission. End of last year, both internal and external environment changes in circumstances, the two sides have started to re-develop cooperative programs and develop related implementation details.

In March this year, North China Pharmaceutical Group Teijin Tasman re-signed a strategic cooperation and asset restructuring of the relevant series of agreements to determine the cooperation is to set up a joint venture related to the sale of joint venture assets, thus Vitamin C Business areas and Antibiotic Business to achieve strategic cooperation. DSM Group’s total investment 110 million U.S. dollars, with North China Pharmaceutical Group and Listed company level synchronous cooperation. Among them, the North China Pharmaceutical Group shares down 25% from the estimated to 9.77%, and listed companies to give up on the North China Pharmaceutical (600812.SH) of direct equity participation. As compensation, listed companies with established three joint venture companies, DSM has made two of 51% of the control. The three joint venture companies will also take over some of its assets.

However, after only six months, these agreements have been re-developed all overthrown.

“DSM in order to promote joint venture spend a lot of time and effort, but the changes in North China Pharmaceutical shares, making it difficult to continue the joint venture negotiations.” Insiders.

DSM side euphemistically said, because of the recent changes in ownership of the North China Pharmaceutical, had developed to fulfill the contract has been delayed and may not be in a reasonable time within the framework. Although both sides still have interest in cooperating, but in the maintenance of existing business relations, decided to suspend the contract.

DSM China Corporate Communications Department of Moisture and stress, DSM will find alternatives of cooperation expected in the Chinese continue to seek joint venture partners. DSM in China, business is steadily growing in China in 2008 Sell Amount of more than 1.1 billion U.S. dollars, accounting for DSM’s total global net sales 8%. North China Pharmaceutical changed hands

Awful case reversed a joint venture, North China Pharmaceutical Group’s equity is undoubtedly the direct cause of the change.

In June this year, North China Pharmaceutical Group Chairman Chang Xing low-key retirement, the local large-scale state enterprises Wang Jizhong, chairman of energy medicine community level to fulfill the new chairman of Xinhua. In August, Hebei Province, China Pharmaceutical Group, the SAC will be 100% of the shares transferred to the Hebei energy, the latter to become China’s new club drugs, two large enterprises restructuring this start.

Chinese medicine Dili Tasman joint venture has also come to a crossroads.

“Joint venture with DSM, the introduction of each other’s capital and technology are often driven by the total time in office.