A PYMNTS Company

China: ChemChina, Sinochem set to merge

By  |  July 1, 2018

Chinese state-owned Sinochem and ChemChina will merge to create a new company, and Sinochem Chairman Ning Gaoning will become the chairman of ChemChina.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Reuters has reported that the two companies were in merger talks to create the world’s biggest industrial chemicals firm worth around $120 billion, to be led by the head of Sinochem.

    Sinochem Chairman Ning will serve as Chairman and Party Secretary of ChemChina, while ChemChina’s long-serving Chairman Ren Jianxin retires, Reuters reported, citing sources close to the companies.

    The personnel change was announced on Saturday at ChemChina’s office by officials from State-owned Asset Supervision and Administration Commission and the Ministry of Organization, the report said.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.