OCP s.a. and Hubei Forbon technology co.,ltd. announce the signing of an agreement for the establishment of a joint venture (jv) operating in the research and development (r&d) field to develop new ge

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January 4, 2021. OCP S.A, a leading global phosphate soil and plant nutrition player, and Hubei Forbon Technology Co.,Ltd. (Forbon), a Chinese company engaged in the research, development, manufacture and sale of fertilizer additives and an innovative company in digital agriculture, are pleased to announce the signing of an agreement for the establishment of a 50/50 Joint Venture operating in the Research and Development field for the development of new generation technologies for fertilizers and smart agriculture.

The JV will be located in the East Lake New Technology Development Zone in Wuhan (China) granting it access to the Chinese innovation ecosystem, considered today as one of the most dynamic in terms of R&D in agriculture. Through this JV, OCP and Forbon aim at establishing a global partnership to develop new generations of fertilizer and digital solutions for agriculture, leveraging on OCP’s and Forbon’s innovation capabilities and to benefit from the great opportunities of the Chinese ecosystem for smart agriculture. Furthermore, this partnership will profit from the dynamic ecosystem of innovation of the Biolake Park in Optic Valley to explore sustainable agricultural solutions by providing farmers with customized solutions, best practices and digital services.

« OCP has put innovation as a cornerstone of its growth strategy as illustrated by the ecosystem approach we have built together with the UM6P (Mohammed VI Polytechnic University). Being located in the East Lake New Technology Development Zone in Wuhan, the Joint Venture will have access to one of the largest and most dynamic network of professionals involved in innovation as well as leading universities and research centers in China, working on the future of agriculture”, said Soufiyane El Kassi – Chief Growth Officer of OCP Group

Mr Wang Renzong, Chairman & CEO of Forbon, said: "OCP and Forbon have the same vision and ambition for the future of agriculture which is to provide more advanced fertilizer and digital solutions to improve traditional agriculture, farming technics and increase the farmers’ profits. With its expertise in AI, sensors, precision equipment, IOT and digital technology, Forbon together with OCP could bring to the farmers the best customized solutions for a sustainable and innovative agriculture. The joint venture will be dedicated to innovation and will benefit to Chinese and global agriculture”.

The transaction is subject to customary closing conditions, including regulatory approvals.

ABOUT OCP GROUP

OCP plays an important role in feeding a growing global population, by providing essential elements for soil fertility and plant growth. With a century of experience and revenues reaching US$5.62 billion in 2019, OCP is a leader in plant nutrition and the world’s first producer of phosphate-based fertilizers. OCP provides a wide range of customized fertilizer products to enhance soil, increase agricultural yields, and help feed the planet in a sustainable and affordable way. Headquartered in Morocco and present on five continents, OCP works in close partnership with more than 160 customers across the world. Closer to home, OCP is committed to help drive forward Africa’s environmental and social development and implement sustainable and prosperous agriculture through innovation. The Group is firmly convinced that leadership and profitability are necessarily synonymous with social responsibility and sustainable development. Its strategic vision is rooted in the meeting of these two dimensions.

For more information: www.ocpgroup.ma

ABOUT HUBEI FORBON TECHNOLOGY (FORBON)

HUBEI FORBON TECHNOLOGY CO.,LTD is a Chinese listed company (Code: 300387) headquartered is in Wuhan, Hubei, China. FORBON focuses on fertilizer additives, value-added fertilizers, and digital agriculture. The company holds a large number of patents and extensive know-how related to fertilizer innovations (processes, Technology, equipment, etc.). Providing fertilizer additives and comprehensive solutions of fertilizer quality management and fertilizer innovation for worldwide big fertilizer companies. FORBON serves c. 500 customers worldwide and has, primarily, operations in Europe, Africa, North America and Asia including China, Malaysia, the Philippines, Indonesia, Vietnam etc. FORBON has also 5 holding companies in France, Netherlands, Canada, Singapore, Hong Kong, and invested in 5 leading start-up companies in digital agriculture field including agriculture sensors and robots. FORBON has also consolidated its position in the fertilizer industry through targeted acquisition strategies, enabling it to achieve diversification and provide its various customers with a wide range of technical solutions and services. In the past three years, FORBON has acquired 100% equity in Novochem (Netherlands fertilizer additives) and 100% equity in PST Industries (French ammonium nitrate additives). FORBON also focuses on smart agriculture, especially smart sensors, AI, big data and agriculture platforms.

For more information, please visit: http://en.forbon.com/

MEDIA CONTACTS

  • OCP Group

           - International Media Relations

              International.media@ocpgroup.ma

  • FORBON

            - Media Relations

              Mr. Liu yu

              lyu@forbon.com

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