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Wanhua Chemical recently issued an announcement that the existing industrial layout of Wanhua Chemical Fujian Industrial Park is mainly for polyurethane-related projects in the west area of Jiangyin Gangcheng Economic Zone, including Wanhua Chemical Group Co.
, Ltd.
and Fujian Petrochemical Group Co.
, Ltd.
in Jiangyin Gangcheng Economic Zone.
The western district of the district established Wanhua Chemical (Fujian) Co.
, Ltd.
with 80% and 20% shareholding ratios.
Wanhua Fujian is mainly responsible for TDI, PVC, synthesis gas and supporting air separation, liquid ammonia, aniline and other equipment and terminal construction; Hua Chemical (Fujian) Co.
, Ltd.
and employee holding companies Ningbo Zhongtao Investment Co.
, Ltd.
and Fujian Yitong Investment Co.
, Ltd.
hold the original Fujian Cornell Isocyanate Co.
, Ltd.
at 64%, 20%, and 16% respectively.
After the completion of the acquisition, it was renamed Wanhua Chemical (Fujian) Isocyanate Co.
, Ltd.
, which was mainly responsible for the construction of the MDI main device and some supporting utilities.
According to the company’s plan, in the future, the petrochemical industry chain will be planned in the east zone of Jiangyin Gangcheng Economic Zone, Fujian Province, and the PDH propane dehydrogenation to propylene and propylene downstream industry chain will be initially planned.
The petrochemical resources in the east zone can be used to form the source of raw materials for the project in the west zone and realize the peace of the east zone.
Based on the mutual supply of raw materials and public works between the eastern and western projects, and the current equity structure after the completion of the acquisition of the western district, the equity structure of the investment entities in the eastern district will be based on the 80% stake held by Wanhua Chemical Group Co.
, Ltd.
Basic situation of investment target:
According to Wanhua Chemical Group Co.
, Ltd.
According to the company's plan, in the future, the petrochemical industry chain will be planned in the east area of Jiangyin Gangcheng Economic Zone in Jiangyin, Fujian, and the PDH propane dehydrogenation to propylene and the downstream industry chain of propylene will be preliminarily planned.
The establishment of Wanhua Chemical (Fujian) New Materials Co.
This foreign investment can not only ensure that Wanhua Chemical will lead the construction of the project with no less than the proportion of equity in the West District, but also effectively mobilize the enthusiasm of Wanhua Chemical's employees, ensure the fairness of transactions between corporate entities in the East and West Districts, and maximize the interests of listed companies.
