Sinochem International announced on June 14 that Sinochem International (Singapore) Co., Ltd. plans to invest no more than RMB 2.82 billion in the acquisition of a total of 60.976% of equity in Jiangsu Shengao Chemical Technology Co., Ltd. After that, the company will set up a company in Hong Kong and acquire the equity acquired by Sinochem International (Singapore) Co., Ltd. After completion of the transaction, Jiangsu Shengao Chemical will become a subsidiary of Sinochem International.
Jiangsu Shengao Chemical Technology Co., Ltd. is the world's largest manufacturer of rubber chemicals 6PPD [N-(1,3-dimethylbutyl)-N'-phenyl-p-phenylenediamine]. And Sinochem International's natural rubber, synthetic rubber, fine chemicals and other businesses have high synergistic value. This acquisition will help Sinochem International enhance its R&D and industrial transformation capabilities, acquire core technologies and products, and improve its industrial chain.
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