Hainan State buys controlling share in R1

ERJ staff report (DS)

Singapore - Sandana Dass, CEO of the world's biggest rubber trader, R1 International Pte Ltd, announced that Hainan Land Reclamation Group has acquired 60 percent of the equity of R1. Hainan State Farms has taken a further 15 percent.

Although the deal was signed in February 2012, the official announcement was made at an event hosted by R1 to mark the end of the World Rubber Summit in Singapore.

R1 trades around 900,000 tonnes of rubber annually, and has a target to exceed 1 million tonnes.

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Press release from Hainan Government