The Chinese state-owned companies Sinochem and Chemchina have been planning an amalgamation for some time. They have now been cleared by the Chinese Commission for the Control and Management of State Assets to carry out the necessary restructuring. The merger would generate a total turnover of around $150 billion, making the company even more competitive. Chinese analysts consider the different growth models of the companies to be a challenge. The companies have started to bundle their business with agricultural products by taking over the Syngenta group. This holding now includes the previous agribusiness of Chemchina and Sinochem. The stock exchange also welcomes the development positively, which has already led to an increase in the value of Sinochem at this point.
The new China REACH came into force on 1 January 2021. The regulation, also known as China New Chemical Substance Notification, got remarkable key updates regarding notification scope, notification type, notification procedure, notification material requirements, and post-notification requirements. There are 12 new definitions for chemicals and corresponding obligations e.g. annual reports for selected chemicals. Also, the regulation selects three types of substances for registration and notification. The CBI protection for substances will be abolished by 31 December 2025. New-post registration obligations were expanded and the timeline for the new registration types has been increased from 30 to 60 days after the first time importing or manufacturing. Data required for record notifications have been revised. A new guidance document for this process is expected soon. We are pleased about the new regulations, which help us to provide our high standards.
The Covid-19-situation can be challenging for each individual. That is why we are even more committed to offering our employees an excellent work-life balance. We are convinced that our employees are the key to success and want to offer them an optimal and modern working environment. Our fair working hours offer employees enough time for self-fulfillment after work. Only then can our workers remain mental health in the long term. In addition, we have evaluated a Homeoffice-concept to protect their physical health. We believe that family and career only work hand in hand, and proudly call us a family-friendly workplace.
Today is China Arbor Day in which people are encouraged to plant trees. Beware of the environment is also fundamental to Petrex. We have taken this occasion to plant 440 trees, with the Grow-my-tree-organization. This act neutralizes the CO2 emissions that a German causes on average throughout his life. But planting trees is not the only solution. Our economic footprint plays a huge role in our business philosophy. This is why we decided to establish a sustainability brand, which can be seen in the photo. Also, we got a silver rating at the sustainability-platform EcoVadis. If you are interested in our measures for people and environment, contact us please for more information.
The management of Petrex attaches great importance to gender equity in business and society. We have a modern image of women and recently hired our new female employee. However, the equality of men and women is still not implemented in all areas of life, which is why we would like to draw attention to today’s International Women’s Day 2021. Marked annually on March 8th is a global day celebrating the social, economic, cultural, and political achievements of women. The day also marks a call to action for accelerating gender parity. Significant activity is witnessed worldwide as groups come together to celebrate women’s accomplishments or rally for women’s equality. This day is also a critical reminder of the equality of women and men. We would like to take this day as an opportunity to support organizations in the equality of women by donating to a local organization. Karunai e.V. substituted a home for female Indian orphans. This is our contribution to make the world a better place for women.
Dear Business Partner,
because of our ethical principles, it is our goal to protect every human being involved in our supply chain. Human rights must be defended at all costs.
The legal opinion ‘Initiative Lieferkettengesetz’ immediately appealed to us, particularly because not all business-related human rights abuses are covered by German Law.
The paper proposes improvements for the judgment of liability and requires aligning a supply chain law with the introduction and definition of offenses. The law asks for the principle of due diligence. Human rights abuses due to a lack of care of a business should be punished.
We support the demands of the letter and see the opinion as a significant milestone against human misuse. Human dignity is inviolable. Please contact us directly in case you have questions about our policies to protect human rights.