Shanghai, Aug. 27 / PRNewswire-Asianet /-- China Chemical International (600500.SH), a central chemical enterprise, announced today that it has completed its acquisition of Jiangsu Fubia Chemicals Co., Ltd. (hereinafter referred to as "Fubia") on August 26, and officially entered the plastic additive business.

Liu Hongsheng, general manager of Sinochem International, said: "the additive industry is not only an important part of material science, but also one of the important strategic development directions of Sinochem International. This acquisition will help Sinochem improve the layout of the additive industry and give full play to the synergistic advantages of the materials science industry, marking another firm step towards the company's goal of "building a world-class materials platform". "

Fubia is a plastic additive manufacturer located in Yancheng Binhai Economic Development Zone, including light stabilizers, ultraviolet absorbers, special flame retardants and so on. It has a production capacity of 5000 tons / year benzophenone ultraviolet absorbers, 5000 tons / year hindered amine light stabilizers, 5000 tons / year triacetone amine intermediates, 2000 tons / year light initiators and 10000 tons / year phosphorus flame retardants. Its CEPPA flame retardant capacity is the largest in the world.

In April 2020, Sinochem International and Fubia's former parent company, Jiangsu Feixiang Chemical Group, began to contact about mergers and acquisitions, and the two sides signed a letter of intent in September of the same year. According to the equity transfer agreement signed in August this year between Sinochem International and Feixiang Holdings Private Co., Ltd., Jiangsu Feixiang Chemical Co., Ltd., Sinochem International acquired 100% stake in Fubia and its subsidiary Qingdao Fuslin Chemical Technology Co., Ltd.

Sinochem International, the core operator of Sinochem's material science sector, is actively laying out and developing materials science industries such as engineering plastics, modified materials, high-performance fibers, electronic chemicals and lithium battery materials. Additive business is an important part of it.

In the field of additive business, Sinochem International's rubber additives have achieved global leadership and become the world's largest integrated service provider for such products. The acquisition of Fubia marks the expansion of Sinochem International's business scope to the field of plastic additives, which has the effect of "complementary chain and strong chain" for the company's additive business.

At the same time, the plastic additive business is also highly coordinated with Sinochem International's developing engineering plastics, epoxy resin and other new materials business. At present, the company already has a production capacity of 150000 tons of epoxy resin, and another 180000 tons will be completed and put into production in Lianyungang; in terms of engineering plastics, the company's ABS modification plant in Yangzhou has started construction, and the planned ABS polymerization project capacity in Lianyungang is also in the process of close demonstration. This acquisition will help Sinochem to give full play to the collaborative advantages of the material science industry, achieve independent control of the supply chain, and form an integrated solution for the material science industry.

Su Fu, deputy general manager of Sinochem International, said that in the future, the company will rely on Fubia's existing industrial foundation, superimpose Sinochem International's R & D, operation and resource advantages, and speed up the development of high value-added innovative varieties. efforts will be made to create the original technology source of the additive industry and the length of the modern industrial chain, so as to quickly enhance the company's industrial status and competitiveness in the field of material science.

With the help of this acquisition, Sinochem International has also taken the first step in the industrial layout of the coastal area of Yancheng. In September 2020, Sinochem International signed a strategic cooperation framework agreement with the Binhai County Government of Yancheng City to plan the strategic layout of the company's industrial projects in the coastal area.

Taking this acquisition of Fubia project as a starting point, in the next few years, Sinochem International plans to increase investment and construction in Yancheng Binhai Coastal Industrial Park through a series of mergers and acquisitions, introduction and upgrading, based on high-performance materials, polymer additive products, fine chemicals and intermediates, promote project integration around the upstream and downstream industrial chain, and create an industry-leading industrial park for circular economy of new chemical materials.

About Sinochem International (Holdings) Co., Ltd.

Sinochem International (Holdings) Co., Ltd. is the flagship company of Sinochem Materials Science in China, which has core competitiveness in intermediates and high-performance materials, polymer additives, natural rubber and other fields of international operation of large-scale state-controlled listed companies (stock code: 600500.SH), customers in more than 100 countries and regions around the world. The company takes "fine chemistry green life" as its corporate vision, and is committed to creating a world-class innovative fine chemical enterprise. Http://www.sinochemintl.com/

About Jiangsu Fubiya Chemical Co., Ltd.

Jiangsu Fubiya Chemicals Co., Ltd. (FOPIA), founded in 2010, is located in Yancheng Coastal Industrial Park and has become a wholly owned subsidiary of Sinochem International (Holdings) Co., Ltd. Fubia specializes in the R & D, production and sales of professional learning aids, with three business segments: new materials, fine chemicals and commissioned processing, and mainly sells a variety of additive products, including ultraviolet absorbers, light stabilizers, polymerization inhibitors and antioxidants.

Related links:

Http://www.sinochemintl.com/