Ren Jianxin has retired as chairman of ChemChina. His successor has been named as Ning Gaoning (Frank Ning), who concurrently serves as chairman of Chinese state-owned petrochemical and fertiliser company Sinochem. Ren’s replacement by the chairman of ChemChina’s rival is considered by many a precursor to a merger between the two firms, an arrangement that would create a group with annual turnover in excess of £100 billion.
Sinochem International Corporation subsidiary Sinochem International (Overseas) Pte Ltd. has Bought a 51 per cent stake in Singapore-based natural rubber producer GMG Global Ltd. for SG$ 267.98 million (£106.4 million). GMG operates natural rubber business in Africa and elsewhere with plantations in Cameroon and Ivory Coast and processing facilities in Indonesia. Amongst other things Sinochem International expects the deal to help position it for growth in the global rubber market. China contributes to over 20 per cent of the world’s natural rubber consumption but only produces 7 per cent of the production.
World Trade Association (WTA) is an international tyre wholesaler, based in Coral Springs, Florida.
The company deals in all brands of passenger car, high performance, light truck and truck tyres and has more than 30 years’ experience dealing in the global marketplace, shipping tyres all over the world.
WTA is also the worldwide distributor for the Hanksugi Japan range of truck tyres, which are available in both bias-ply and radial construction. They are produced in Shanghai, with the manufacturing process controlled through the Sinochem International Company Limited.
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