On May 20th, China National Chemical Corporation and the State-owned Assets Supervision and Administration Commission of Jingzhou City of Hubei Province signed the Sanonda Group Assets Transfer Agreement in Jingzhou. According to the agreement, the Jingzhou City SASAC will transfer the state-owned assets of the Sanonda Group to China National Chemical Corporation, and China National Chemical Corporation will invest RMB 800 million in the next five years to implement the pesticide-based industry and drive related Industrial development planning.
Fu Xiangsheng, deputy secretary of the party committee of China National Chemical Corporation, said that entering into the main city of Sanonda is only the first step of China Chemical Industry Corporation's overall plan for the strategic investment in Hubei. China National Chemical Industry Group will reorganize and integrate Sharonda's pesticide companies with superior status in China to create pesticide carriers, which will help expand and strengthen the domestic pesticide industry and increase the influence, control, and driving force of the state-owned economy in the pesticide industry.
Wei Haimin, director of Hubei Provincial Petrochemical Industry Investment Promotion Center, said that in order to develop Hubei Chemical Industry with the help of external forces, the center introduced China Chemical Industry Corporation as a strategic investor to Hubei last year. The two sides successively inspected relevant companies on the integration and reorganization of Hubei Chemical Industry and China National Chemical Corporation, and discussed the design and reorganization plan. Politburo member, Hubei Provincial Party Committee Secretary Yu Zhengsheng and Governor Luo Qingquan also made clear on many occasions that they welcome China Chemical Industry Group to develop Hubei Chemical Industry through industrial restructuring.
It is understood that China National Chemical Corporation is an ultra large state-owned enterprise group approved by the State Council in May last year. The Group vigorously implemented the strategic positioning of “Old Chemicals and New Materials†and strived to achieve an asset and annual sales revenue of RMB 100 billion through integration and development within three to five years. Sanonda Group Co., Ltd. is one of the 520 enterprises supported by the state and is the leading enterprise in the pesticide industry in China. Its core enterprise Sanonda Co., Ltd. is the first A and B-share listed company in the pesticide industry in China and its annual output of pesticides. Up to 30,000 tons. The picture shows the transfer signing ceremony.
Fu Xiangsheng, deputy secretary of the party committee of China National Chemical Corporation, said that entering into the main city of Sanonda is only the first step of China Chemical Industry Corporation's overall plan for the strategic investment in Hubei. China National Chemical Industry Group will reorganize and integrate Sharonda's pesticide companies with superior status in China to create pesticide carriers, which will help expand and strengthen the domestic pesticide industry and increase the influence, control, and driving force of the state-owned economy in the pesticide industry.
Wei Haimin, director of Hubei Provincial Petrochemical Industry Investment Promotion Center, said that in order to develop Hubei Chemical Industry with the help of external forces, the center introduced China Chemical Industry Corporation as a strategic investor to Hubei last year. The two sides successively inspected relevant companies on the integration and reorganization of Hubei Chemical Industry and China National Chemical Corporation, and discussed the design and reorganization plan. Politburo member, Hubei Provincial Party Committee Secretary Yu Zhengsheng and Governor Luo Qingquan also made clear on many occasions that they welcome China Chemical Industry Group to develop Hubei Chemical Industry through industrial restructuring.
It is understood that China National Chemical Corporation is an ultra large state-owned enterprise group approved by the State Council in May last year. The Group vigorously implemented the strategic positioning of “Old Chemicals and New Materials†and strived to achieve an asset and annual sales revenue of RMB 100 billion through integration and development within three to five years. Sanonda Group Co., Ltd. is one of the 520 enterprises supported by the state and is the leading enterprise in the pesticide industry in China. Its core enterprise Sanonda Co., Ltd. is the first A and B-share listed company in the pesticide industry in China and its annual output of pesticides. Up to 30,000 tons. The picture shows the transfer signing ceremony.
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