Who is the CEO of ChemChina Chemical Corporation?

State company. In May 2004, after the State Council of the People’s Republic of China approved a merger of companies formerly under the Ministry of Chemical Industry as the China National Chemical Corporation (ChemChina), Ren Jianxin became its CEO; in December 2014 he became the chairman of the board of directors.

What kind of company is China National Chemical Corporation?

China National Chemical Corporation, commonly known as ChemChina, is a Chinese state-owned chemical company in the product segments of agrochemicals, rubber products, chemical materials and specialty chemicals, industrial equipment, and petrochemical processing.

How much is the ChemChina Sinochem merger worth?

In May 2017, Reuters, reported that discussion had begun regarding the merging and consolidation of ChemChina and state-owned Sinochem, overtaking industry leaders such as BASF, in a deal worth around $120 billion.

How much did ChemChina bid for Pirelli in 2015?

In March 2015, it was announced that Pirelli shareholders had accepted a €7.1 billion bid from ChemChina for the world’s fifth-largest tyre maker. In February 2016, ChemChina agreed to a $43 billion bid for Swiss seeds and pesticides group Syngenta, the largest ever foreign purchase by a Chinese firm.

Which is the largest chemical company in China?

China National Chemical Corporation, commonly known as ChemChina, is a Chinese state-owned chemical company in the product segments of agrochemicals, rubber products, chemical materials and specialty chemicals, industrial equipment, and petrochemical processing. As of 2018, it is ranked 167th among the Fortune Global 500 companies.

Why was Sinochem merger with ChemChina so controversial?

The deal was viewed as highly controversial within the Chinese government given the amount of leverage needed to complete the transaction. The state-guided merger with Sinochem is said to have been an attempt at reining in control over ChemChina, which is operated more like a private enterprise under the direction of Mr Ren.

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