China : Sinochem Tianjin to acquire 56.85% shares of Shenyang Cenkey
Source: Sinochem Corporation Date: 2007-12-27
On November 29, Sinochem Tianjin Co, a subsidiary of Sinochem Corporation and Shenyang Cenkey Chemical Co, Ltd signed a share transfer agreement that allows Sinochem Tianjin Co. to acquire 56.85% of the shares.
As a fine chemicals manufacturer with strong R&D and production capabilities, Shenyang Cenkey is one of the major suppliers of fluorescent whitening agent CF-351, sodium cyanate, BMMB dyestuff addictives, and intermediaries.
With the world’s second largest CBS-X Fluorescent Whitening Agent production line, Shenyang Cenkey enjoys a high reputation in this sector in China.
Dyestuffs and pigments are the traditional export products of Sinochem Tianjin Co, which has developed extensive sourcing and sales network at home and abroad and has industry leading brands including “Youhao” dyestuff and “TP” pigment.
Currently 20.64% of Shenyang Cenkey’s shares are held by Shenyang Research Institute of Chemical Industries, another subsidiary of Sinochem Corporation.
Shenyang Institute is one of China’s earliest comprehensive chemical research institute, focused on research, development and production of fine chemicals including agrochemicals, dyestuffs, intermediaries, organic pigments and addictives.
With takeover of Shenyang Cenkey, Sinochem Tianjin Co will take advantages of both the R&D platform of Shenyang Institute and production capability of Shenyang Cenkey to develop the market of high-grade dyestuffs and pigments addictives, further enforce the operation competitiveness, gradually establish the industrial chain of R&D, production, sales and post-sale services of dyestuffs and pigments, and make Shenyang Cenkey a competitive dyestuff and pigment addictives marketing and sales service provider.
