carlyle-buys-stake-in-chinese-chemical-company

Carlyle buys stake in Chinese chemical company

The $87 million investment will give the private equity firm a "significant minority stake" in Sinorgchem, China's largest producer of rubber antioxidant chemicals.
The Carlyle Group has agreed to invest $87 million in privately owned Chinese chemical company Sinorgchem, in what will be its first investment in China this year. The announcement, which was made jointly by the two firms, contained few details of the deal but a source familiar with the acquisition says Carlyle will pay cash and the investment will give the US private equity firm a ôsignificant minority stakeö in Sinorgchem.

Sinorgchem is the largest Chinese supplier of para-phenylenediames, better known as PPDs, which is a key chemical additive that is used as an antioxidant in the production of rubber products such as tyres. Its main purpose is to prevent premature aging of the...
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