North Sydney, Australia-Dyno Nobel said Jan. 16 that it has acquired 29.9 percent of the ordinary shares in Fabchem China Ltd., an explosives company on the Singapore stock exchange. Dyno Nobel paid US$31.8 million for its stake, which includes an up-front payment of S$0.52 per share, an additional $0.13 per share payable upon achieving profit hurdles in 2008, and S$.05 per share payable upon Fabchem obtaining an export license. Dyno will nominate two members of the Fabchem board of directors and have a senior manager seconded to Fabchem, reporting to Fabchem Managing Director Sun Bowen.
Transparency Across the Fertilizer Value-Chain