There are rumors that Sinochem Group will merge with China Chemical Group – what are people’s thoughts on this?
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According to Bloomberg, sources say China plans to merge Sinochem Group and China National Chemical Corporation into one group. According to the Sinopec website, the group’s revenue in 2015 was $45 billion ； It holds a controlling stake in 8 A-share listed companies and 9 overseas enterprises. According to the website of Sinochem Group, the group owns a number of listed companies such as Sinochem International, Sinochem Fertilizer, and China Jinmao, and is the largest shareholder of Far East Horizon. An anonymous insider said that as part of the reform of state-owned enterprises, China plans to merge Sinochem Group and China National Chemical Corporation into one group. People familiar with the matter say there could still be changes before an official announcement is made. Sinochem Group and the State-owned Assets Supervision and Administration Commission did not immediately respond to Bloomberg’s email requesting comments. An unnamed employee from Sinochem Group said that no relevant information has been disclosed.
No way, that would be a giant, right? That’s amazing
With these two companies merging, they will be right on par with the two major oil companies, and they will also have an oil refining business
That’s right; I also have clients among the subsidiaries of Sinochem. It’s not clear whether consolidation will be a good thing or a bad thing:lol
Sinochem was originally an enterprise under the Ministry of Foreign Trade; it started out in trade and has been moving towards downstream sectors over the past few years, targeting wealthy customers. On the other hand, China National Chemical Corporation is a group of enterprises that originated from the Ministry of Chemical Industry – they are involved in the downstream aspects of the chemical industry. By connecting these two, a complete process can be established
It’s unlikely to change right away; in the long run, it’s a good thing
Guan Guan can use this to post on the WeChat official account @Guan Gongyu
It’s really very likely, extremely likely, that the three major oil companies will be suppressed after the merger
CNOOC has stepped back from the competition; it’s no longer a rival to Sinochem. It’s the two major oil companies that are the real competitors