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.
Merger of Sinochem and Chemchina is imminent
