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On March 31, at the approval of the State Council, Sinochem Group Co., Ltd. ( “Sinochem”) and China National Chemical Corporation Ltd. ( “ChemChina”) will undertake a joint restructuring. Under such a joint restructuring plan, the equity interests of both Sinochem and ChemChina will be owned by a newly-incorporated company (the “New Holding Company”), which will be established and wholly owned by the State-owned Assets Supervision and Administration Commission on behalf of the State Council. Sinochem and ChemChina will become the wholly-owned subsidiaries of the New Holding Company. This joint restructuring will create synergy, build up a world-class chemical company, and promote a high-quality development of the chemical industry in China.
On the list of 2019 Fortune Global 500 released on July 22, ChemChina ranks 144th, up by 23 places over 2018. It is the 9th consecutive time for ChemChina to be on the list of Fortune Global 500, and its ranking has been increased year by year.
On the latest annual list of the Fortune Global 500 released worldwide on the evening of July 19, ChemChina ranks 167th, up by 44 places over 2017, the third biggest producer of chemicals.
Business
The company’s internal mixer is one of the world’s most advanced models, with technical indicators a
This machine is specially designed for the vulcanization of automobile tires of all kinds, and the entire process. The loading, unloading and aeration are fully automated. It can also be manually operated. The structure uses the latest technology from Japan’s Kobe Steel Co, to give it superior, reliable quality. The machine is PLC controlled to avoid breakdowns and for convenient maintenance and change of vulcanizing size.
The plate vulcanizing press unit is highly automated and compact and is suited to large general rubber conveyor belts, or nylon, wire rope, and flame retardant conveyor belts. The machine’s frame, hot plates, and plungers are made of superior steel and are corrosion and wear resistant. It is convenient to maintain and easy to adjust and uses PLC controls in programming the vulcanizing process. The hot plate temperature is easily monitored and regulated for improved controls, production efficiency, and is less labor intensive.
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