The most popular Korean Songyuan shares in China a

2022-07-26
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Songyuan, a Korean additive manufacturer, wants to acquire 30% of the shares of Tangshan Baifu Chemical Co., Ltd. to expand its product range and better penetrate the Chinese market

Songyuan, headquartered in Ulsan, South Korea, said that it had the option to acquire 50% of the shares of Tangshan Baifu. The company's managers said that they were interested in looking for a number of investment objects in China, and Tangshan Baifu was the first. The specific terms of the transaction were not published

on April 19, min Tian, President of Songyuan products (Shanghai) Co., Ltd., said in an interview at the company's booth at the China International Rubber and plastic Exhibition: "this is only the first step in our global strategy and in China. We are trying to expand our business in China." The exhibition will be held in Shanghai from April 19 to 22

Tangshan Baifu Chemical Co., Ltd., located in the suburbs of Tianjin, is the largest manufacturer of thioester additives in China. Songyuan said that the newly established joint venture would initially mainly produce songnox DLTDP and songnox dstdp thioesters, and supply both Chinese and global markets

both parties have signed a memorandum of understanding on the transaction. It is expected that the negotiation will be completed and the new joint venture will be put into operation before January 1 next year, when Erb said that the process is simple and safe

jonfl pendulum impact testing machine, chairman and President of Songyuan Industry Co., Ltd., is mainly used for metal Charpy impact test. GHO Park said in a statement: "this equity participation is the first step we have taken to actively establish a production foundation in China, and also reflects our long-term commitment to the integration of the production of polymer additives that Songyuan factory is not engaged in through the precise blending of ldpe/lldpe."

Weiqi Zhang, President of Tangshan Baifu, said that Songyuan's advanced technology and global network can help the joint venture become the world's top supplier of thioester antioxidants

before this transaction, Songyuan announced last week that it was restructuring its business in China to help it invest more conveniently in China in the future. Songyuan said that in the future, it will carry out other investments in China through its subsidiary Songyuan (China) Co., Ltd. in Hong Kong

tian disclosed that in this restructuring, Songyuan plans to buy out the shares held by the partner of Songyuan Jiazhuo Chemical Co., Ltd., an existing joint venture in Shanghai, to promote the transformation and upgrading of the material industry, and fully control its liquid product production plant

Songyuan now controls 60% of Songyuan Jiazhuo Chemical Co., Ltd., and the remaining shares are held by Shanghai Jiazhuo Chemical Co., Ltd., but Tian said that the two sides hope to negotiate Jiazhuo's withdrawal from the joint venture in the next six months

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