Yaxing Chemical to Buy ADC Foaming Agent Asset
Year:2009 ISSUE:34
Click:344    DateTime:Dec.04,2009
Yaxing Chemical to Buy ADC Foaming Agent Asset     

Weifang Yaxing Chemical Co., Ltd. (SH: 600319) said on November 17th it plans to buy the 12 000 t/a ADC foaming agent facility from Weifang Weipeng Chemical Co., Ltd. for RMB160.53 million.
   Weipeng is controlled by Weifang Yaxing Group Co., Ltd., the controlling shareholder of Yaxing Chemical.
   The ADC foaming agent facility, capable of producing 12 000 tons of ADC foaming agent a year, came on stream in 2006 based on technology of Bayer AG. The facility, running in good condition, is the largest and most advanced of its kind in the world, Yaxing Chemical said.
   Yaxing Chemical offers caustic soda, chlorinated polyethylene, among other products. The acquisition would help it reduce production costs and boost profitability.