Sinochem Holdings

Sinochem Holdings Corporation Limited is the largest Chinese chemical, petrochemical and agrochemical company, formed in 2021 as a result of the restructuring of the assets of state-owned companies Sinochem Group and China National Chemical Corporation (ChemChina). The controlling stake in the holding is owned by SASAC. Headquartered in Beijing, the company has production and R&D units in 150 countries and regions around the world. As of 2020, the company had more than 220 thousand employees.

In 2020, two companies of the holding were included in the list of the largest companies in the world according to Fortune: Sinochem Group (sales of $80.3 billion and 60 thousand employees) and ChemChina (sales of $65.7 billion and 145.5 thousand employees). The subsidiary Syngenta Group had sales of more than $23 billion and about 50,000 employees. In the 2022 Fortune Global 500 list, Sinochem Holdings was ranked 31st in the world and 9th in China. 16 of its subsidiaries have been listed on stock exchanges, including Pirelli, Aeolus Tyre, Adama, Elkem, REC Solar Holdings, Adisseo, Yangnong Chemical, Luxi Chemical, Haohua Tech, China Jinmao, Sinochem International, and Far East Horizon.

History

In 1950, China Import Corporation was established under the auspices of the Ministry of Commerce, which was transformed into China National Import & Export Corporation in 1951, China National Chemicals Import & Export Corporation in 1961, and Sinochem Group in 2003.

In 2004, China National Chemical Corporation (ChemChina) was founded as a result of the merger of China National BlueStar Corporation, China Haohua Chemical Group and other entities affiliated with the former Ministry of Chemical Industry of China.

In 2011, ChemChina acquired Elkem, a Norwegian manufacturer of chemical materials and alloys, from the Orkla group for $2 billion. In 2015, ChemChina acquired Swiss agrochemical company Syngenta for $43 billion and Italian tire company Pirelli for €7.3 billion, while Elkem acquired Norway's Renewable Energy Corporation (REC), a major manufacturer of solar panels and silicon materials.

In 2016, ChemChina acquired German industrial equipment manufacturer KraussMaffei for $1 billion. In 2017, ChemChina, through its subsidiary Hubei Sanonda, completed the acquisition of Israel's Adama Agricultural Solutions. In December 2018, the former CEO of Sinochem Group, Cai Xiyu, was sentenced to 12 years in prison and a fine of 3 million yuan for taking bribes.

In January 2020, ChemChina and Sinochem Group merged their agricultural assets into Syngenta Group. In March 2021, Sinochem Holdings was established by the decision of the State Council of China, which included Sinochem Group and ChemChina as subsidiaries.

Industry

The activities of Sinochem Holdings and its subsidiaries are focused on eight key areas:

Agricultural products (fertilizers, pesticides, seeds, vitamins and animal feed additives)
Chemical materials (plastics, chemical fibers, polymer additives, silicon and carbon materials, electronics chemicals, lithium battery materials)
Petrochemical and chemical products (chlor-alkali, coal and inorganic chemicals, refined and petrochemical products)
Rubber products (tires for trucks, cars, buses, tractors, motorcycles and bicycles, rubber conveyor belts)
Environmental protection (chemicals and filters for water, air and soil treatment, seawater desalination, wastewater treatment, soil reclamation, treatment of municipal and industrial solid waste)
Industrial equipment (chemical equipment, including machines for the production of plastic products and tires)
Real estate operations (office, residential and shopping complexes, hotel business, medical and educational centers in more than 50 cities in China, real estate leasing, building design, maintenance and repair)
Financial services (asset management, financial leasing, life insurance, insurance brokerage services, industrial funds, securities investment funds, commercial factoring, financial futures, integrated business services, financial technology development, big data processing, risk and profitability control)
Also, subsidiaries of Sinochem Holdings finance farms, trade in grains, vegetables and fruits, import and distribute fertilizers and seeds, compile ratings of agricultural producers and brands (Panda Guide), supply medical equipment and medicines, and manage supply chains for the automotive industry, are engaged in the wholesale supply of oil and petroleum products, manage storage facilities for petroleum products (Tianjin, Shanghai, Jiangsu, Zhejiang, Guangdong) and gas station networks (about 1,400 gas stations), develop industrial parks, build chemical and energy plants, and test chemicals and medicines.

Structure

Sinochem Holdings includes dozens of subsidiaries and affiliates:

Sinochem Group (China)Sinochem International (China: Chemical Materials)Elix Polymers (Spain: plastics)
Sennics (China: polymer additives)
Sinochem Lantian (China: chemical materials)
Sinochem Plastics (China: Plastics)
Sinochem Quanzhou Petrochemical (China: petrochemicals)
Sinochem Hebei Corporation (China: Coal Chemistry, Oxidizing Agents, Pesticides, Tungsten and Lithium Materials)Gaotai Sinochem Tomato Product (Tomato Paste)
Sinochem Oil Company (China: oil supplies)
Sinochem Oil Marketing Company (China: oil supplies)
Sinochem Petrochemical Distribution Company (China: supply of petroleum products)
Sinochem Energy High-Tech Company (China: Information Technology)
Shenyang SYRICI Testing (China: Chemical Safety Assessment, Drug & Chemical Testing)
Sinofert Holdings (China: fertilizers, joint venture with Canada's Potash Corporation of Saskatchewan)
ChemChina (China)China National Bluestar Group (China)Bluestar Adisseo (China: Animal Feed Additives & Vitamins)
Elkem (Norway: chemical materials)
Qenos (Australia: polymers and polyethylene)
REC Solar Holdings (Singapore: solar panels)
Bluestar Shenyang Chemical Group (China: Petrochemicals, Chemical Materials, Paints, Tires and Paper)
Bluestar Harbin Petrochemical (China: petrochemicals)
Bluestar Wuxi Petrochemical (China: Petrochemicals)
Shanxi Synthetic Rubber (China: Petrochemicals)
Bluestar Fibers (China: Chemical Fibers)
Bluestar Dongda Chemical (China: Petrochemicals, Chemical Materials & Medical Products)
Nantong Xingchen Synthetic Material (China: Plastics)
Bluestar New Chemical Materials (China: Plastics)
China Bluestar Chengrand (China: Plastics)
Guangxi Bluestar Dahua Chemical (China: Titanium Materials)
Zhonglan Yima Chromic Chemical (China: Chromium Materials)
Bluestar International Chemical (China: International Trade, Design & Construction)
Bluestar Lehigh Engineering (China: design of chemical plants, mines and sewage treatment plants)
Bluestar Chonfar Engineering and Technology (China: Design of Chemical Plants, Mines and Wastewater Treatment Plants)
Hangzhou Water Treatment Technology Development Center (China: Water Treatment)Hangzhou Membrane Industries (China: Water Treatment Membranes)
Hangzhou Beidouxing Membrane Products (China: Water Treatment Membranes)
Toray Bluestar Membrane (a joint venture with Japan's Toray Industries)
Beijing Bluestar Cleaning (China: Liquid & Solid Surface Cleaning Chemicals)
Lanzhou Bluestar Cleaning (China: Liquid & Solid Surface Cleaning Chemicals)
Lanzhou Bluestar Daily Chemicals (China: Household Detergents)
Jinan Yuxing Chemical (China: Chromium & Titanium Materials)
ChemChina Petrochemical (China)Shandong Changyi Petrochemical (China: petrochemicals)
Shandong Huaxing Petrochemical Group (China: petrochemicals)
Daqing Zhonglan Petrochemical (China: Petrochemicals)
Qingdao Anbang Petrochemical (China: petrochemicals)
Zhenghe Group (China: petrochemicals)
ChemChina Logistics (China: Oil Port and Pipeline Management)
ChemChina Singapore (Singapore: trade in crude oil and petroleum products)
China National Agrochemical Corporation (China)Syngenta Group (China: fertilizers, pesticides and seeds)Syngenta Crop Protection (Switzerland)
Syngenta Seeds (USA)
Syngenta Group China (China)
Adama (Israel: herbicides, food additives)
Cangzhou Dahua Group (China: fertilizers)
Jingzhou Sanonda Holding (China: fertilizers)
Shandong Dacheng Agrochemical (China: fertilizers)
Jiangsu Anpon Electrochemical (China: fertilizers)
Jiangsu Huaihe Chemicals (China: fertilizers)
Anhui Petroleum & Chemical Group (China: Fertilizers)
Jiamusi Heilong Agricultural and Industrial Chemical (China: Fertilizers)
China National Tire & Rubber (China)Pirelli (Italy: tyres)
Aeolus Tyre (China: tyres)
Prometeon Tyre Group (USA: tyres)
Qingdao Rubber Six Conveyor Belt (China: Conveyor Belts)
China Haohua Holdings (China)Deyang Haohua Qingping Linkuang (China: phosphorus mining)
Shenzhen Haohua Industrial & Trading (China: supply of raw materials and chemicals)
China Haohua International Trading
Hualing Coatings (China: international trade)
Haohua Junhua Group (China: Coal Chemistry, Agrochemistry and Chemical Materials)
Haohua Yuhang Chemicals (China: chlor-alkali chemicals, cement)
Haohua Technology (China: Chemical Materials)
Dezhou Shihua Chemical (China: petrochemicals)
Heilongjiang Haohua Chemical (China: Chemical Materials)
Hebei Shenghua Chemical Industry (China: Chlor-Alkali Chemicals, Rubber)
Haohua Honghe Chemical (China: Chemical Materials)
Guizhou Crystal Organic Chemical Group (China: Coal Chemistry, Building and Packaging Materials)
Hunan Xiangwei (China: polymers)
Hebei Xinji Chemical Group (China: Chemical Materials)
China National Chemical Equipment CorporationKraussMaffei Group (Germany: chemical, packaging, refrigeration and medical equipment)
Yiyang Rubber & Plastics Machinery Group (China: Chemical Machinery)
Guilin Rubber Machinery (China: Chemical Machinery)
Fujian Sino-Rubber Machinery (China: Chemical Machinery)
Huaxia Hanhua Chemical Equipment (China: chemical equipment)
Sichuan Bluestar Machinery (China: Chemical Machinery & Tanks)
Bluestar Beijing Chemical Machinery (China: Chemical Machinery)
Xi'an Lishan Automobile (China: Buses)
Shenyang Automoblie Axle Manufacturing (China: Automotive Components)
Shijiazhuang Factory No. 7420 (China: Automotive Components)
Tianjin Sungwoo ChonChe High-Tech (China: Automotive Components)
Dalian Factory No. 4821 (China: shipbuilding and ship repair)
Taizhou Factory No. 7816 (China: Shipbuilding)
Beijing Factory No. 9416 (China: Metalworking)
Luxi Chemical Group (China: fertilizers, chemicals, petrochemicals)
Yangnong Chemical Group (China: petrochemicals, chemical materials)Jiangsu Yangnong Kumho Chemical (joint venture with Korea's Kumho Petrochemical)
China Jinmao Holdings Group (Hong Kong: Real Estate Operations)
Sinochem Capital (China)Sinochem Capital Investment Management (China: Financial Services)
Far East Horizon (Hong Kong: Financial Services)
Guantong Futures (China: Financial Services)
Sinochem Finance (China: financial services)
Sinochem Factoring (China: Financial Services)
Sinochem Capital Digits (China: Financial Services)
Sinochem Commerce (China: consulting)
Sinochem Insurance Brokers (China: insurance brokerage services)
Manulife-Sinochem Life Insurance (China: life insurance, joint venture with Canada's Manulife Financial)
Sinochem Assets Management (China: Asset Management)
China Foreign Economy and Trade Trust / FOTIC (China: Asset Management)Lion Fund Management (China: Asset Management)

Industrial plants

The main production bases of Sinochem Holdings are located in Heilongjiang (Harbin, Daqing, Jiamusi, Qiqihar), Liaoning (Shenyang, Huludao), Hebei (Shijiazhuang, Zhangjiakou, Handan, Cangzhou), Shanxi (Datong, Yuncheng), Shandong (Liaocheng, Linyi, Weifang, Dongying, Dezhou, Qingdao, Jinan), Henan (Luoyang, Zhumadian, Jiaozuo), Jiangsu (Nanjing, Nantong, Yangzhou, Lianyungang, Wuxi), Anhui (Hefei), Zhejiang (Hangzhou, Taizhou), Fujian (Quanzhou), Sanming), Hubei (Jingzhou), Jiangxi (Jiujiang), Hunan (Changsha, Yiyang, Huaihua), Guizhou (Guiyang), Sichuan (Chengdu, Zigong, Deyang), Shaanxi (Xi'an), Gansu (Lanzhou, Gaotai), as well as in Shanghai, Beijing, Tianjin, Guangxi Zhuang Autonomous Region (Guilin, Baixe) and Ningxia Hui Autonomous Region (Shizuishan).

Syngenta Group's enterprises are located in China, Switzerland, Italy, France, Great Britain, Germany, the Netherlands, the USA, Brazil, India, Indonesia, and the Philippines. Adama has operations in Israel, China, India and Brazil. Bluestar Adisseo has operations in China, France, Belgium, Spain, the United Kingdom, and the United States.

Elkem's chemical plants are located in China, South Korea, Malaysia, India, Norway, France, Italy, Spain, Germany, Iceland, the United States, Canada, Brazil, Paraguay and South Africa. REC Solar Holdings' factories are located in the United States and Singapore.

Pirelli has operations in China (Jining, Jiaozuo, Hengshui), Indonesia, the United Kingdom, Italy, Germany, Romania, Turkey, Russia, Brazil, Argentina, Mexico and the United States. Sinochem International's facilities are located in China and Spain.