KLF, HAI sign co-operation agreement

Thursday, Sep 25, 2014 10:57

KLF and HAI sign strategic co-operation. — VNS File Photo

HA NOI (VNS) — KLF Joint Venture Investment International JSC (KLF) has signed a strategic co-operation agreement with HAI Agrochem Joint Stock Company, paving the way for KLF to invest in agricultural materials.

Under the agreement, KLF will support HAI in providing capital, enhancing administration quality and increasing the number of partners for its products' supply and consumption.

In addition, KLF has agreed to support HAI in enhancing its financial capacity by issuing or buying shares to become its strategic shareholder in the near future.

HAI's Vice Chairman of the management board and General Director Quach Thanh Dong said the company will implement the comprehensive co-operation agreement with KLF.

Dong said that 65 per cent of HAI's turnover comes from distributing the products of multinational companies such as Mosanto and Dow Agrosciences.

He added that HAI has invested in agricultural products which need better financial management and that the co-operation with KLF will benefit the two parties.

Following the agreement, KLF bought 4.26 million shares or 24.5 per cent of HAI's charter capital.

Earlier this week, Doan Van Phuong, FLC Group's chairman of the management board and a member of KLF's management board, became the chairman of the HAI Agrochem Joint Stock Company. — VNS

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