On April 29, SINOCHEM International announced that its holding subsidiary Jiangsu Sinorgchem Technology Co., Ltd. acquired 100% shares of American PANIT Company with USD 114.6 Million to control its subordinate business assets of rubber chemicals, NBR latex, etc.

The main businesses of PANIT Company include rubber chemicals and special NBR latex business. It has two factories in America; with a total capacity of nearly 60,000 tons and main products as accelerant NS, antiager TMQ and special NBR latex products, these two factories are both the largest production suppliers in North America.

SINOCHEM International takes Jiangsu Sinorgchem as its development platform of rubber chemicals business, this acquisition and integration will promote the internationalization process of rubber chemicals business of SINOCHEM International, be beneficial to quickly forming overseas capacity layout, strengthening global supply system and improving international marketing and service ability, and further enhance multifaceted cooperation with big global clients.