Sincerity Applied Materials Holdings Corp. (OTC:SINC) Stock in Focus After Acquisition News
This morning, most investors are going to be interested in companies that were in the news cycle on Monday, and one of the companies that could come into focus is Sincerity Applied Materials Holdings Corp. (OTC:SINC). The applied materials and chemicals industry leader announced yesterday that it had inked a Memorandum of Understanding with regards to the acquisition of AgroShield LLC.
United States-based AgroShield is a noted distributor and manufacturer involved with the waste management, agricultural, and aquaculture sectors in the South American and North American markets. As per the terms of the agreement between the two parties, Sincerity Applied Materials Holdings Corp. would pick up a 100% stake in AgroShield. The company would complete the acquisition through the exchange of 24487005 shares of its common stock. In the news release, Sincerity Applied Materials Holdings Corp. stated that the acquisition would enable it to expand its capabilities and footprint in the water treatment and agricultural industries. That would be accomplished through the leveraging of the extensive market reach and innovative technologies of AgroShield.
The Chief Executive Officer of Sincerity Applied Materials Holdings Corp., Yiwen Zhang, spoke about the move yesterday. He noted that the management team was thrilled at the pivotal step taken by the company in completing the acquisition of AgroShield. He went on to state that the acquisition was in perfect alignment with the growth strategy of the company and its commitment to the diversification of its products as well as the expansion of its market reach in the United States. It was also revealed that AgroShield’s Richard Selby would take up a position on the board of Sincerity Applied Materials Holdings Corp. following the completion of the merger. The two entities would move on to due diligence processes, which would involve the thorough checking of each other’s operations, contracts, financial statements, and other important aspects.
