Tangshan Sunfar Silicon Industries Co.,Ltd. completed the acquisition of Tangshan Oci Chemical Co.,Ltd from Oci China Co. Ltd.
July 29, 2021
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Tangshan Sunfar Silicon Industries Co.,Ltd. (SHSE:603938) signed a share transfer agreement to acquire Tangshan Oci Chemical Co.,Ltd from Oci China Co. Ltd. for CNY 50.4 million on July 13, 2021. As per terms, Tangshan Sunfar Silicon Industries Co.,Ltd. shall pay 50% of consideration on the agreement effective date and 50% on the transfer completion date. Tangshan Sunfar Silicon Industries Co.,Ltd. will provide Tangshan OCI Chemical Co., Ltd. with a loan of CNY 71.5 million, to be used to repay OCI China Co., Ltd.’s loan of CNY 27 million and OCI Company Limited’s loan of CNY 44.5 million. as on April 30, 2021, total asset and net asset of Tangshan Oci Chemical Co.,Ltd was CNY 127 million and CNY 42.3 million respectively. The transaction has been approved in the 9th meeting of the 4th Directorate of Tangshan Sunfar Silicon Industries Co.,Ltd. held on July 13, 2021, and is subject to its shareholders approval. The transaction has been approved in the Third Extraordinary General Meeting of Shareholders held on July 29, 2021.
Tangshan Sunfar Silicon Industries Co.,Ltd. (SHSE:603938) completed the acquisition of Tangshan Oci Chemical Co.,Ltd from Oci China Co. Ltd. on July 30, 2021.
Tangshan Sunfar Silicon Industries Co., Ltd. is a China-based company principally engaged in the research and development, production and sales of fine chemical products. The Company's main products include trichlorosilane, potassium hydroxide, potassium sulfate and high purity silicon tetrachloride. The trichlorosilane is mainly used in the production of polysilicon and silane coupling agent. The polysilicon is used in solar cell, semiconductor material, cermet material and optical fiber fields. The silane coupling agent is mainly used in surface treatment agent, inorganic filling plastic, adhesives, sealants, special rubber adhesives and other fields. The potassium hydroxide is mainly used for the synthesis of potassium carbonate, potassium permanganate and other potassium salts. The Company mainly distributes its products in domestic market.