Independent company plan adjusts business below Du Bangqi of contented family name

Published on 2018-11-26

The government announces to be less than two weeks, company of Du Bang of contented family name will change his to plan the business structure of 3 independent companies.

Headquarters is located in Mixiegen the company of Du Bang of contented family name of city Mi Delan held a press conference on September 12, say in view of trade the acknowledge that after announcing, obtains, material science and technology and company of special type product will undertake the adjustment of a few specific aim, this will strengthen the competitive dominant position of other company.

The board of directors complements, these changes can make these business and the terminal market phase that they serve match better, ensure the focus is clear, the market is visible, have the innovation of specific aim and more driving growth.

Made change basically includes the special product company that from the new material company that plans to build a few business transform the lieutenant general to plan to build. Those who be affected is as main as plastic and relevant business the high-powered polymer that is Du Bang and plastic mix Multibase in all.

High-powered polymer includes ester of Du Bangni dragon, acetal, PBT, polyester, copolymerization and relevant material. Multibase is thermoplastic the manufacturer of vulcanized rubber and relevant product, be located in benefit of Ohio popular science.

Sale predicted these business that plan move 2017 will amount to 8 billion dollar. Board of directors of Du Bang of contented family name referred a decision after investigating a report to make such change in independent director, this includes the proposal that Mai Ken stannum offers in portion report, and a lot of partner, include to invest business and the view with advisory finance.

Opinion of member of directorate of Du Bang of contented family name is finished consistent, we believe these adjustment is correct move, long-term and character will make partner is benefited. Executive president Andrew Liveris is on the press conference say.

Since in contented family name and Du Bang two big tycoons incorporate, du Bang of contented family name begins formal operation from August 31. The total sales last year is these two companies 72 billion dollar.

Announcing amalgamative plan first is 2015 the end of the year, include to be in the company that future dismembers 3 independence inside 18 months.

Among them a the biggest company will be dedicated at data business, include plastic resin. This company still can retain the title of contented family name, the address also is located in contented family name former seat Mi Delan. Additional two companies, one devotes oneself to agriculture, another devotes oneself to special type product, will be located Yu Dubang is former seat helps China city especially Weimingdu city.

Bilateral and amalgamative the cost synergism that predicts to will generate nearly 3 billion dollar and the growth synergism of nearly 1 billion dollar. The plastic business history of contented family name is OK restrospect to 70 old before, du Bang is longer, had exceeded 90 years. Contented family name is the global leader of PE domain, and Du Bang is nylon and special type plastic global tip produces business.