Taiyuan Chemical Industry Co., Ltd. agreed to acquire 39% stake in Taiyuan Chemical Industry Group Putian Agriculture Co., Ltd. from Taiyuan Chemical Industry Group Co., Ltd.
May 26, 2021
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Taiyuan Chemical Industry Co., Ltd. (SHSE:600281) agreed to acquire 39% stake in Taiyuan Chemical Industry Group Putian Agriculture Co., Ltd. from Taiyuan Chemical Industry Group Co., Ltd. on May 26, 2021. In a related transaction, Taiyuan Chemical Industry Co., Ltd. agreed to acquire 15% stake in Changxing Dexi Technology Co., Ltd., 40% stake in Shanxi Tanxi Technology Co., Ltd. and 39% stake in Shanxi Yangmei Huabao Nagu Aerogel Coating Co., Ltd. For the First quarter of 2021, Taiyuan Chemical Industry Group Putian Agriculture Co., Ltd. reported Total Assets as CNY 1.0794 million and Net assets as CNY 0.5296 million. Transaction is approved by the Board of Taiyuan Chemical Industry Co., Ltd.
Shanxi Huayang New Material Co Ltd, formerly Taiyuan Chemical Industry Co Ltd, is a China-based company principally engaged in the business of recycling and processing of precious metals. The Company operates two main businesses. The precious metal recovery and processing business includes the production and sales of platinum group metal catalytic nets and the recovery and disposal of waste catalysts containing precious metals. The biodegradable plastic business includes the production and sales of Poly(butyleneadipate-co-terephthalate) (PBAT) and related downstream biodegradable plastic products. The Company's products include platinum alloy mesh, recycled and refined palladium and biodegradable materials and articles. The Company mainly conducts business in the domestic market.
Taiyuan Chemical Industry Co., Ltd. agreed to acquire 39% stake in Taiyuan Chemical Industry Group Putian Agriculture Co., Ltd. from Taiyuan Chemical Industry Group Co., Ltd.
SHANXI HUAYANG NEW MATERIAL CO.,LTD. 
