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Sinochem International to Acquire Equities of 5 Companies under Chemicals SBU of Chemicals Group, Including Sinochem Plastics

2017-12-12

On December 12, Sinochem International announced its intention to acquire a 100% stake each from Sinochem Plastics Co., Ltd., Sinochem Jiangsu Co., Ltd., Sinochem Qingdao Co., Ltd., Sinochem International Chemicals (Hong Kong) Co., Ltd. and Sinochem Japan Co., Ltd. The amount of the transaction agreement is no more than RMB 1.744 billion. The aforementioned five companies will be included in the system of the listed company by way of agreement transfer. This is an important measure for the internal integration of Sinochem's Chemicals SBU, marking a steady step for Sinochem International to grow into a leading innovative fine chemical enterprise.

The acquisition is expected to increase the total assets of Sinochem International by RMB 2.4 billion, and boost its current-period net profit by RMB 258 million. It will also further empower Sinochem International in terms of the delivery of innovative, high-quality, green products and comprehensive solutions in fields such as automotive chemicals, agrochemicals, and electronic chemicals.

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