Chlor-Alkali Chemical insists on western ethylene equity

May 12, 2021

Chlor-Alkali Chemical seems to have decided to transfer a 15.53% stake in Ningxia Western PVC Co., Ltd. (western ethylene). After two failed sales, April 28 was again listed for transfer to Shanghai United Assets and Equity Exchange.
According to the information disclosed by the SAFE, chlor-alkali chemical plans to transfer the 15.53% stake in western ethylene held by the company within 20 working days from April 28 at a price of 98 million yuan, which is a drop of 10% from the mid-March listing price. %. The equity was first listed in early February.
The reporter noted that the eligibility conditions of the transferee have not changed much, and the transferee must be a state-owned or state-controlled large- and medium-sized enterprise legal person; the net assets of the transferee or its parent company amount to more than RMB 2.5 billion.
“The price of western ethylene we sell will not be lower than the original amount.” Chlorine-alkali chemicals showed its cards. Western Ethylene was established on May 16, 2003, with a registered capital of 539 million yuan. It is jointly funded by British Elite, Intelli Group (now Guodian Elite Energy Chemical Group) and chlor-alkali chemical, and holds 43.71% shares respectively. 40.76% and 15.53%. Based on this calculation, the selling price of chlor-alkali chemicals will not be lower than 8,370.67 million yuan.
Chlor-Alkali Chemical's intention to retreat mainly stems from the fact that last year British Elite purchased unilaterally 40.76% of the western ethylene held by its controlling shareholder, the British Elite Group. “This acquisition has caused the company to lose the opportunity for additional investment and gradually lost it to the west. Vinyl's right to speak," said the analysis.
According to public information, the British Elite Group holds 35.31% and 50% of the equity of the West Ethylene (PVC Project) and the West Ethylene Thermal Power Company respectively. After the above equity is consolidated, the value of the 40.76% equity of the British Elite Group is 404.05 million Yuan. After the completion of the acquisition, Intellilite holds an 84.47% stake in western ethylene and is in absolute control.
Under the circumstances that the right to speak fell, chlor-alkali chemical decided to transfer this part of the equity.
Chlor-Alkali Chemical can also use this to realize the purpose of returning funds and strengthening the main battlefield. In 2009, the company realized main business income of 4.797 billion yuan, down 12.82% year-on-year; main business profit was 254 million yuan, down 48.04% year-on-year; total profit was 237 million yuan, down 49.03% year-on-year. Under the situation of declining performance, Chlor-Alkali Chemical focused its efforts on the main battlefield. The focus of the company's future key planning is to accelerate the transfer and transformation of some production facilities at Wujing Base, and to speed up the construction of projects such as Phase 3 of Huasheng Chemical Industry Park and expansion of Huasheng Terminal. Strengthen the recycling of chlorine to the development of high-end products.
Now, under the background that chlor-alkali chemical has reduced the listed price by 20% cumulatively, will Intime be able to use “preemptive right” to buy? Chlor-Alkali Chemicals stated that if the interested parties are not solicited after the listing period ends, the company will change the contents of the announcement and re-list.

"Gravity Die Casting. A permanent mould casting process, where the molten metal is poured from a vessle of ladle into the mould, and cavity fills with no force other than gravity, in a similar manner to the production of sand castings, although filling cn be controlled by tilting the die."

Gravity Die Casting

Sometimes referred to as Permanent Mould, GDC is a repeatable casting process used for non-ferrous alloy parts, typically aluminium, Zinc and Copper Base alloys.

The process differs from HPDC in that Gravity- rather than high pressure- is used to fill the mould with the liquid alloy.

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There are three key stages in the process.

  1. The heated mould [Die or Tool] is coated with a die release agent. The release agent spray also has a secondary function in that it aids cooling of the mould face after the previous part has been removed from the die.
  2. Molten metal is poured into channels in the tool to allow the material to fill all the extremities of the mould cavity. The metal is either hand poured using steel ladles or dosed using mechanical methods. Typically, there is a mould [down sprue" that allows the alloy to enter the mould cavity from the lower part of the die, reducing the formation of turbulence and subsequent porosity and inclusions in the finished part.
  3. Once the part has cooled sufficiently, the die is opened, either manually or utilising mechanical methods.

Advantages

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