Liao Ning Oxiranchem Inc(300082) 4 announced on the evening of April 14 that the company plans to participate in the new investment project of Tianjin polyether new materials Co., Ltd. (Preparatory) by publicly delisting, so as to promote the company to enter the propylene oxide business market.
The new project invested by Tianjin polyether new materials Co., Ltd. (Preparatory) was listed in Beijing Property Exchange on February 18. Sinopec assets company plans to invest at the price of the assets of Tianjin Petrochemical polyether department, and the investor will jointly establish Tianjin polyether new materials Co., Ltd. (Preparatory) with cash investment. The newly established joint venture is 40% owned by Sinopec assets company Liao Ning Oxiranchem Inc(300082) plans to participate in the project at an appropriate price and acquire 60% equity of the joint venture.
Liao Ning Oxiranchem Inc(300082) said that the company has always adhered to the development strategy of “creating value based on epoxy”. This time, it plans to participate in the above projects in the form of public delisting, aiming to actively participate in the mixed reform of state-owned enterprises, further deepen the strategic partnership with Sinopec, complement each other’s advantages and achieve win-win results. Through this project, based on the existing ethylene oxide and its derivatives, the company can improve the epoxy business segment, promote the company to enter the propylene oxide business market, and build a collaborative development model of ethylene oxide and propylene oxide with the help of the resource advantages of Tianjin Petrochemical, so as to realize the simultaneous development of epoxy industrial structure.
In addition, Tianjin Petrochemical polyether department is located in Dagang, Tianjin Binhai New Area, adjacent to Bohai Bay in the East, with obvious location advantages, rich resources in the area, and complete supporting facilities of Tianjin Petrochemical public works. This investment will help the company give full play to the cost and competitive advantages of the upstream and downstream industrial chain, enrich the company’s product structure, further extend the polyether industrial chain, and constantly improve the company’s coastal and riverside regional layout.
