China National Chemical Corporation (ChemChina), a state-owned enterprise incorporated based on the most influential enterprises under the former Ministry of Chemical Industry, is China’s largest chemical company ranking the 211th among Global Fortune 500 enterprises.
Strategically positioned to create “new materials in the time-honored chemical industry”, ChemChina specializes in six business segments -- new chemical materials & special chemicals, basic chemicals, oil processing, agrochemicals, tire & rubber products, and chemical equipment.
The company has production bases, R&D bases, and full-fledged marketing networks in 150 countries and regions. Specifically, it has six specialized companies, four directly-affiliated units and 92 production and operation enterprises. Also, it controls seven companies listed in the A-share market, with ten overseas subsidiaries being operated. It is a national innovation-oriented enterprise boasting 26 research and design institutes.
With a comprehensive sustainability program, the company works to honor its commitments to environmental safety, energy conservation, and emission reduction. As a leader in “zero-emission” management, ChemChina minimizes pollution and carbon emission through efficient management and state-of-the-art technologies. Currently, the company is implementing the “13th Five-Year Plan” and, guided by the principle of “new science, new future”, speeding up industrial restructuring. It will establish a “3+1” business pattern featuring “material science, life science, advanced manufacturing plus basic chemical engineering”, as a way to become a top-notch chemical company with an international competitive edge.
ChemChina is a market-driven and responsible long-term investor.
It has a strong track record of success in integrating and managing its international investments. Notable acquisitions include: French Adisseo Group, Qenos in Australia, Rhodia Global Silicone in France, Norway’s Elkem, Israel’s ADAMA, Italy’s Pirelli, REC Solar in Norway and KraussMaffei in Germany.
ChemChina provides its international affiliates with significant management independence. For example, with its recent KrausMaffei acquisition, ChemChina plans to increase jobs in Germany and keep operational responsibility at the company’s headquarters in Munich. All existing collective bargaining agreements and facility commitments remained unchanged. ChemChina offered similar commitments to Pirelli.
Copyright©2023 China Daily. All rights reserved.