Subscribe to our free daily newsletters
. 24/7 Space News .




Subscribe to our free daily newsletters



TECH SPACE
Beijing to merge chemicals giants
by Staff Writers
Beijing (AFP) Oct 14, 2016


Beijing is planning a mega-merger of chemicals giants Sinochem and China National Chemical Corp. in a massive deal that would reshape the chemicals industry, Bloomberg News reported Friday.

The companies together would control assets worth more than $100 billion, it said.

The deal comes as authorities attempt a vast restructuring of China's economy intended to weed out inefficient, debt-saddled firms by forcing them to combine with healthier rivals or face bankruptcy.

But the transition faces hurdles, as politically-connected state-owned companies resist painful reforms, and Communist Party officials are reluctant to see large-scale layoffs that could lead to social unrest.

China National Chemical Corp, also known as ChemChina, made a $43 billion takeover offer earlier this year for Swiss pesticide and seed giant Syngenta, in what would be by far the biggest-ever overseas acquisition by a Chinese firm.

But $15 billion of financing crucial to the acquisition was still missing as of this month, Chinese financial media Caixin reported this week.

It was unclear how the Chinese merger would affect the Syngenta deal, as details of the transaction had not been announced, Bloomberg said.

Syngenta rebuffed US rival Monsanto three times last year before accepting the ChemChina offer.

Beijing is seeking to create powerful national champions in select industries that can compete head-to-head with multinational corporations.

bfc/slb/kb

Monsanto

SYNGENTA


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

.


Related Links
Space Technology News - Applications and Research






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
TECH SPACE
Scientists model anti-reflective surfaces after cicada wings
Shanghai (UPI) Oct 11, 2016
A team of researchers from China's Shanghai Jiao Tong University recently developed a new class of anti-reflective materials using nanostructures derived from titanium dioxide. The scientists cited cicada wings as their inspiration. Cicada wings are marked by periodic conical structures, which researchers call "nano-nipples." Scientists were able to texture materials with tiny titanium ... read more


TECH SPACE
Hunter's Supermoon to light up Saturday night sky

Small Impacts Are Reworking Lunar Soil Faster Than Scientists Thought

A facelift for the Moon every 81,000 years

Exploration Team Shoots for the Moon with Water-Propelled Satellite

TECH SPACE
ESA lander starts 3-day descent to Mars; Telemetry all good

DREAMS of Mars: Europe's ExoMars Mission Arrives in the Middle of Dust Season

How Mars' moon Phobos came to look like the Death Star

Schiaparelli readied for Mars landing

TECH SPACE
Beaches, skiing and tai chi: Club Med, Chinese style

NASA begins tests to qualify Orion parachutes for mission with crew

New Zealand government open-minded on space collaboration

Growing Interest: Students Plant Seeds to Help NASA Farm in Space

TECH SPACE
China to launch manned spacecraft: Xinhua

Closing windows on Shenzhou 11

China to launch world's first X-ray pulsar navigation satellite

China may be only country with space station in 2024

TECH SPACE
Hurricane Nicole delays next US cargo mission to space

Automating sample testing thanks to space

Orbital CRS-5 launching hot and bright science to space

Roscosmos Sets New Date for Soyuz MS-02 Launch to Orbital Station

TECH SPACE
Ariane 5 ready for first Galileo payload

Orbital ATK and Stratolaunch partner to offer competitive launch opportunities

Trusted Ariane 5 lays foundations for Ariane 6

ULA gets $860 million contract modification for expendable launch vehicle

TECH SPACE
Stars with Three Planet-Forming Discs of Gas

TESS will provide exoplanet targets for years to come

The death of a planet nursery?

Protoplanetary Disk Around a Young Star Exhibits Spiral Structure

TECH SPACE
Achieving ultra-low friction without oil additives

Beijing to merge chemicals giants

Scientists model anti-reflective surfaces after cicada wings

TES team evaluates new data collection method after age-related issue




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement