Sinochem International to invest 3.2 billion yuan in domestic and foreign strategic layout

Sinochem International announced on February 22 that it intends to add no more than RMB 1.634 billion yuan to acquire 61.66 million shares from Jiangsu Yangnong Chemical Group Co., Ltd. (Yangnong Group) and also plans to purchase 35% of the equities of SIAT with 192.56 million euro (or RMB 1.6 billion yuan) from GMG, a listed company in Singapore controlled by Sinochem International. These acquisition plans embody Sinochem International's development strategy in the fine chemicals, agrochemicals and natural rubber fields.
Yangnong Group has a strong influence in domestic and foreign markets in industries such as nitration and chlorination products of benzene, epichlorohydrin and pyrethroid for agricultural and health purposes. SIAT specializes in the planting, processing, production and sales of natural rubber and oil palm with its main assets in Cote d'lvoire, Ghana, Nigeria and Gabon of Africa.
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