Croda: Acquires 65% Equity Interest in Sichuan Sipo Chemical
Croda International Plc, Yorkshire, Great Britain, has received Chinese regulatory approval to acquire a 65% equity interest in Sichuan Sipo Chemical Co. Ltd, a non-listed natural speciality chemicals manufacturer based in Mianyang City, Sichuan Province, China. Completion of the transaction is subject to customary closing conditions which are expected to be fulfilled within the next few weeks.
Sipo was established in 1993 and has approximately 300 employees. The company makes speciality derivatives from natural raw materials and its products include primary amides, novel fatty acids and speciality esters. A state of the art, well invested production facility, custom built in 2011, will provide additional capacity from the outset and increase Croda’s proximity to customers in the region, strengthening its existing operations across China and the Group’s overall position in Asia.
Would you like to subscribe to our Newsletters on plastics technology and profit from the latest information?
Looking for a new challenge? Check out our jobs market!
Patents encourage innovation: Stay on the ball with the latest innovations in the plastics industry in our patents section.