Chemchina and sinochem of China merged into the world's largest chemical group in 2018
Chemchina and sinochem of China merged into the world's largest chemical group in 2018
China chemical and sinochem plans to merge in 2018 and the merged group will form the world's largest chemical group, with annual revenues of $100bn, the financial times quoted bankers as saying.
China chemical and sinochem plans to merge in 2018, the financial times reported
Last month, chemchina's $43 billion acquisition of syngenta passed the Chinese ministry of commerce's antitrust review. On Friday, syngenta shareholders accepted the China chemical takeover offer, which is about 80.7 per cent. The report said that the purpose of the Chinese chemical and sinochem merger was to give chemchina sufficient financial capacity to digest syngenta.
The merger of chemchina and sinochem has been reported repeatedly in the us and Europe, but the two have repeatedly denied it. The latest financial times report quoted a number of bankers close to the two companies as saying that sasac plans to merge the two.
In China, speculation about chemchina and China's sinochem has been mixed. A report at the end of last year China's JingJiWang mentioned, the tone of the last two years the global chemical industry is to combine, from the perspective of state-owned enterprises reform, sinochem and China chemical industry restructuring is also possible.
Red Morgan?
Last year, the financial times reported that China chemical and sinochem, the main driver of the merger talks, had been the chairman of the Chinese company.
Known as the "red Morgan of China" in ninggao, the foreign media replaced zhou mingchen as chairman of cofco in December 2005. According to media statistics, in 11 years, cofco started 50 mergers and acquisitions, ninggao is known as the "king of mergers and acquisitions".
On January 5, 2016, ning gao ning transferred to zhonghua group as chairman. Subsequently, we began to participate in the formulation and implementation of sinochem reform.
Wang qiang, an analyst at galaxy securities, has said that the company, which has led cofco to take over more than 10 years, has made a big leap in total assets. "From the perspective of the NingGaoNing with industrial chain of thinking, but he's only acquisition and processing in the whole industry chain, is not really the fields to the table, after the join sinochem, the industrial chain model can be directly extended to the seeds, agriculture, chemical fertilizer and agricultural modernization services."
Another "hard role" : a self-made man
However, China chemical chairman ren jianxin's merger and acquisition integration will not be underestimated.
In 1984, ren jianxin founded blue star chemical cleaning co., the original predecessor of chemchina. In May 2004, China chemical group was established as the main body of blue-star group and haohua group, and ren jianxin became the general manager of this "new king of industry". Since then, under the guidance of jian-xin ren, China chemical industry developed mainly overseas acquisitions of internationalization management strategy, one of the most notable is, in February last year, China chemical group announced a $43 billion deal to buy Swiss agrochemical and syngenta seeds company.
Through international mergers and acquisitions, China chemical industry won a globally competitive industries and international famous brands and global marketing network, especially the patent technology with independent intellectual property rights, solve the methionine, deep processing of organic silicon and other core technologies.
In just over 10 years, chemchina has rapidly developed into a fortune 500 enterprise in the world leading position in new chemical materials, specialty chemicals and chemical equipment.
The new trunk line says Mr. Ren's record is also prominent, and he has the characteristics of a self-made man, a rare entrepreneurial talent among state-owned enterprises. However, ning gaoning has always been a prudent and thoughtful man, and he is a brave man who dares to break through and invest in his work. The new sinification of the future, no matter who will be the boss, will be a huge big MAC.
