China’s state-owned chemical firm Sinochem International said Thursday [14 January 2016] it is discussing the acquisition of a stake in Halcyon Agri Corp, a Singaporean natural rubber giant. Sinochem International is talking with Halcyon Agri founder and CEO Robert Meyer and other related shareholders, the company said in a statement filed to the Shanghai Stock Exchange, where it is listed. According to the statement, the Chinese firm will possibly acquire 25 to 50 percent of Halcyon Agri, a global leader in natural rubber, which is an important raw material for tires and other industrial products…Full Article: China Daily Jan 2016
- Founded in 2010 in Singapore, Halcyon Agri Corp operates 14 rubber processing facilities in Indonesia and Malaysia.
- In January 2016, China National Cereals, Oils and Foodstuffs Corporation (COFCO) former chairman Frank Gaoning Ning became chairman of Sinochem Group. Sinochem Corporation is a state-own conglomerate that produces and markets chemicals, fertilizers and petroleum.
- Chinese imports of natural rubber steadily increased from 2006 to 2011, with Thailand, Malaysia, Indonesia, Vietnam, and Myanmar as China’s top suppliers. Import volumes surpassed 2 million MTs in 2011 after being relatively stable at 1.6 million to 1.8 million MTs from 2006 to 2010.