Fujian Hengshen Engineering Plastics Co., Ltd. completed the acquisition of 51% shares of Ankeluo Engineering Plastics (Changzhou) Co., Ltd.

On July 14, Fujian Hengshen Engineering Plastics Co.
, Ltd.
, a subsidiary of Hengshen Holding Group, headquartered in Changle District, Fuzhou City, completed the equity transfer with AKRO-PLASTIC GmbH (“Ankeluo”), a subsidiary of the German Feddersen Group, and acquired Ankeluo Engineering 51% shares of Plastics (Changzhou) Co.
,
Ltd.
This is the third cross-border acquisition completed within four years by Hengshen Group, the representative of the "Grassroots Industry", thus achieving a breakthrough in the downstream application of caprolactam from textile materials to high-end engineering plastics, and further securing the global caprolactam industry.
"Leader" position
.

In the 1980s, a group of township and village enterprises mainly focused on the textile industry emerged in Changle, which was hailed as "grassroots industry" by the famous sociologist Fei Xiaotong
.
As one of the representatives of "grassroots industry", Hengshen started from "making a nylon rope", extended the industrial chain in reverse, and continued to advance to the upstream nylon industry, and actively entered the production field of caprolactam, the main raw material of the textile industry
.

In July 2017, Hengshen Group invested 40 billion yuan to build the first phase of the polyamide integration project with an annual output of 1 million tons in Kemen Economic Development Zone, Lianjiang County, making it the world's leading caprolactam producer
.
The scale of the enterprise is large, but the technical capability is not strong enough, and it has not stood at the high-end position of the global caprolactam value chain
.

In 2018, as the "world's fourth" in the caprolactam industry, Hengshen Group reversely acquired the "world's first" Fubond, and obtained all the shares of Fubond Holland Caprolactam Factory and 60% of Nanjing Fubond Oriental Chemical Co.
, Ltd.
Co.
, Ltd.
has become the world's largest caprolactam production enterprise with the most advanced technology and the most complete industrial chain, solving the core problems of caprolactam production technology and intellectual property rights
.

In order to achieve from the largest to the strongest, in September 2019, Hengshen acquired Air Liquide (Fuzhou) Co.
, Ltd.
, a wholly-owned subsidiary of Air Liquide, and realized the necessary industrial gas raw materials (hydrogen, synthetic ammonia, etc.
) in the production process of caprolactam.
) independent supply, which solves the problem of supply chain stability and effectively reduces costs
.

Engineering plastics are an important downstream application of caprolactam.
They are high-performance plastics that can replace metal to manufacture machine parts and are widely used in electrical and electronic, automotive, aerospace and other industries
.
Due to technical gaps, caprolactam is basically used in the textile industry in China, and 90% is used abroad to produce engineering plastics with higher gold content
.

German Ankoro is known for its strong innovation ability and advanced technology in the international high-end engineering plastics industry.
It is a supplier of Mercedes-Benz, BMW, Audi and other well-known enterprises
.
"After this acquisition, we have the right to speak in the downstream high-end applications of caprolactam,
" said Chen Jianlong, chairman of Hengshen Group
.

Chen Jianlong said that Hengshen Group will continue to strengthen industrial chain projects such as semiconductor raw materials, lithium battery new energy raw materials, high-end engineering plastics, new textile and clothing materials, and continuously improve its core competitiveness.
The high-quality development of the textile and chemical fiber industry in our province
.