Sinochem International acquires FOPIA to make foray into plastic additives business


On August 26, Sinochem International completed the acquisition of Jiangsu FOPIA Chemicals Co., Ltd, marking a foray into the plastic additives business.

Liu Hongsheng, General Manager of Sinochem International, said, The additives industry is an important part of materials science and one of the strategic priorities of Sinochem International. This acquisition will help improve our business layout in the additives industry and leverage the synergies of materials science. It marks another key step towards our goal of building a world-class materials platform.

FOPIA is a plastic additives manufacturer located in the Binhai Economic Development Zone in Yancheng. The company manufactures light stabilizers, ultraviolet absorbers, special flame retardants, and etc.

In April 2020, Sinochem International and FOPIAs former parent company Jiangsu Feixiang Chemical Group began negotiations on the acquisition. In September 2020, the two parties signed a letter of intent for cooperation. According to the equity transfer agreement signed in August 2021, Sinochem International acquired 100% of FOPIA and its subsidiary Qingdao Fusilin Chemical Science and Technology Co., Ltd.

Sinochem International is a global leader in rubber additives. The acquisition of FOPIA marks the companys entry into the field of plastic additives, and will reinforcing its position in the additives business.

The plastic additives business is also highly synergistic with several new materials businesses including engineering plastics and epoxy resins that Sinochem International has been developing. This acquisition will help Sinochem International fully leverage synergies in the materials science industry and form integrated solutions.

Su Fu, deputy General Manager of Sinochem International, said the company will rely on FOPIAs existing business strengths, together with its own expertise in R&D, operation and resources, to accelerate the development of high value-added innovative products, and develop proprietary new technologies to boost the competitive edges in materials science.

With this acquisition, Sinochem International has also taken the first step in its business layout in the Binhai Economic Development Zone in Yancheng. In September 2020, Sinochem International signed a strategic cooperation framework agreement with the Binhai County Government of Yancheng City to start planning of the companys projects in Binhai.

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