OREANDA-NEWS.  August 20, 2012. Sinochem International Corporation, a listed enterprise controlled by Sinochem Group, released an announcement, claiming that Sinochem International will non-publically issue A-shares to specific objects at the price of no less than 5.94 yuan/share to raise funds of no more than RMB4 billion, wherein, RMB2.816 billion will be used for the purchase of 61% of equity shares of Jiangsu Sinorgchem Technology Co., Ltd., and the other RMB1.184 billion will be used to replenish working capital, reported the press-centre of Sinochem. 

Through this private placement, Sinochem International will see the implementation of significant investment projects and perfection of the industrial chain, hopeful for making still greater achievements in the rubber industry based on its strength in rubber and chemicals distribution channels and supported by Jiangsu Sinorgchem’s strength in R&D and industrial transformation.

As the largest manufacturer of rubber antioxidant 6PPD in the world, Jiangsu Sinorgchem ranked first globally in terms of its capacity and market share of the 6PPD and key intermediate RT base products. According to its financial data, Jiangsu Sinorgchem realized net profit of RMB0.437 billion in 2011. As one of the essential materials of the rubber industry, rubber chemicals industry can be efficiently cooperated with the natural rubber, synthetic rubber, and fine chemicals industries operated by Sinochem International.