Page 22 - Plastics News December 2017

COMPANY NEWS

ChemChina to list KraussMaffei on Shanghai Stock Exchange

hina National Chemical Corp. (ChemChina) is moving significantly increase in the Chinese market," Jianxin Ren,
Cforward with plans to list KraussMaffei Group GmbH chairman of ChemChina, said in a statement. "Chinese
on the Shanghai Stock Exchange. ChemChina bought investors appreciate German industrial workmanship as
KraussMaffei, a plastics processing machinery maker, well as management competency."
for 925 million euros ($1.09 billion) in April 2016.
ChemChina said KraussMaffei will become a subsidiary of
Qingdao Tianhua Institute of Chemistry Engineering Co. IndianOil conferred Platts
Ltd., a Chinese industrial equipment manufacturer that Global Energy Award for
also makes tire and rubber products.Qingdao Tianhua,
Industry Leadership

ndian Oil Corporation (IndianOil) was adjudged the
Ibest company in the category “Industry Leadership
Award – Downstream” of the 2017 edition of the
prestigious Platts Global Energy Awards.
The awards, widely recognised as the Oscars of the
energy sector, were given away at a gala awards
event held in New York last week. Responding to
the prestigious international recognition, IndianOil
Chairman, Mr. Sanjiv Singh, said that the Corporation's
all-round excellent physical and financial performance

a subsidiary of ChemChina, is listed on the Shanghai
Stock Exchange and reported sales of about 476 million
Chinese yuan ($72 million) for fiscal 2016. KraussMaffei's
business would make up roughly 85 percent of the listed
company, according to KraussMaffei CEO Frank Stieler.
The transaction, which includes adding KraussMaffei's
equity interest into Qingdao Tianhua, is subject to
approval by relevant bodies and regulators in China. The
request for approvals will be reviewed over the next few in the year 2016-17, coupled with several Marketing
months. "Through the planned transaction, [KraussMaffei and R&D initiatives launched during the year, has
is] receiving access to the capital market," Stieler said helped IndianOil bag the coveted global award in the
downstream oil & gas sector.
in a news release. "Through new financial resources,
we have the opportunity to continue to develop our The Platts Global Energy Awards honour organisations
company and accelerate our planned growth." If listed, and individuals dedicated to achieving excellence in
the energy industry. The Awards receive more than 200
KraussMaffei's headquarters will remain in Munich. The nominations each year from over 25 countries. The
company reported sales of approximately 1.3 billion event was attended by more than 450 energy industry
euros ($1.5 billion) in fiscal 2016 and has more than executives. The 2017 S&P Global Platts Global Energy
5,000 employees. ChemChina will continue to control Outlook Forum was held the morning of the Global
KraussMaffei. "Through a future listing on the Shanghai Energy Awards on Thursday, December 7, 2017, at
Stock Exchange, the perception of KraussMaffei will Cipriani (25 Broadway) in New York City.

Plastics News December 2017 22