China’s Zhejiang Zanyu seeks stake in Hangzhou Oil and Fat Chemical

02 February 2012 08:17  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Zhejiang Zanyu Technology Co plans to acquire an 86.8% interest in Hangzhou Oil and Fat Chemical Co for yuan (CNY) 144m ($23m), a company source of Zhejiang Zanyu said on Thursday.

Under the framework agreement signed on 2 February, Hangzhou Oil and Fat Chemical will help Zhejiang Zanyu to develop its upstream supply, the source said.

Zhejiang Zanyu is mainly engaged in daily chemical products and surfactants in China while Hangzhou Oil and Fat Chemical is a stearic acid producer in Zhejiang province in China.

Stearic acid applications include surfactants, rubber, plastic and daily chemical products.

($1 = CNY 6.31)

By: Rachel Yang

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly