HAGL Agrico sells third rubber company to Thadi
HAGL Agrico sells third rubber company to Thadi
Hoang Anh Gia Lai Agricultural Company (HAGL Agrico) has announced plans to transfer 100% of its stake in Trung Nguyen Rubber Company to Thadi Agriculture Production and Processing JSC, an arm of Truong Hai Auto Corporation (Thaco). This is the third rubber company that HAGL Agrico has sold to Thadi.
Trung Nguyen Rubber Company was established in 2008, with An Phu Real Estate Investment Corporation holding 99.8% of the stake and two individuals holding the remainder.
An Phu later divested from the company and HAGL Agrico was announced as the new owner.
By December 31 last year, the firm had charter capital of nearly VND1.3 trillion.
HAGL Agrico’s rubber revenue has been high in recent years, at VND454 billion in 2017 and VND345 billion last year. In the first half of this year, its rubber revenue reached VND119 billion, double the figure in the same period last year.
The firm manages more than 47,100 hectares of rubber farms in Vietnam, Laos and Cambodia. Of the total, its rubber farms in Cambodia have the largest area of nearly 21,800 hectares, while those in Laos and Vietnam have a respective area of some 20,400 hectares and 4,970 hectares.
The company also owns a latex processing plant with an annual capacity of 25,000 tons in Laos.
In June, HAGL Agrico transferred its first rubber subsidiary, Indochina Rubber Investment and Development Co., Ltd, to Thadi. Last month, it sold Dong Penh Co., Ltd, to Thaco’s subsidiary.
