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Solvay will acquire shares of Tianjin Soda

Post Time:Jun 10,2011Classify:Industry NewsView:410

(China Glass Network) It’s reported that Solvay has reached an agreement with Tianjin Soda Co., Ltd about acquisition of 30% share of Tianjin Binhai Soda. The investment of Solvay will be divided into two phrases of € 16million ($ 23million). Solvay will also provide loan guarantees, made all the investment close to € 60 million. It represents the directly entrance of Solvay into the huge soda market in China.

 

The production capacity of Tianjin Binhai Soda Company in soda ash and relevant products such as bicarbonate is 0.8 million tons per year, ammonium chloride 0.8 million tons per year. The company is now in the phrase of commissioning and it’s predicted to enter into fully operation later this year. The sales of new company will be 0.2million tons per year of soda ash and ammonium chloride 0.3 million tons yearly in the name of Solvay.

 

 

Source: glassinchina.comAuthor: shangyi

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