Sinochem Intends To Buy European Producer Of Engineering Plastics
Sinochem international, a wholly owned subsidiary of sinochem international (Singapore) co., LTD. (sinochem), plans to set up a holding subsidiary SPV in Spain (name to be determined), with a shareholding ratio of 75.87%, according to an October 16 announcement by sinochem international. SPVG intends to acquire 100 percent of Global Arlington and its underlying company elixpolyemrsfrom Elix Holding Management S.A.R.L. c.a for 144 million euros.
It said wholly owned by ELIX Polymers, Global Arlington, focuses on the production and sale of engineering plastics products, the announcement said. Set up in 1975, ELIXPolymers was spun off into an independent company in 2012 because of restrictions imposed by the eu's antitrust policy, and Sun Capital Partners Inc became its controlling shareholder by indirectly owning 92 percent of its shares.
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