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Wanhua Group


Source: http://en.wikipedia.org/wiki/Wanhua_Group
Updated: 2017-01-13T10:27Z
Wanhua Industrial Group
HeadquartersYantai, China
Key people
Jiansheng Ding (CEO)
Number of employees
apx 15000 (including BorsodChem)
Websiteen.wanhuagroup.com

The Wanhua Industrial Group is a Chinese chemical company that is the world largest producer of isocyanate (MDI or methylene diphenyl diisocyanate) in terms of capacity.

The company has an annual MDI production capacity of 2.1m tonnes per year. In comparison, Covestro (ex Bayer MaterialScience) has a capacity of 1.245m tonnes/year.[1] Yantai Wanhua Polyurethanes is a subsidiary of the Wanhua Group and is listed on the Shanghai Stock Exchange.[1]

In one of the biggest Chinese outbound investment deals in Europe in 2011, Wanhua acquired Hungarian chemical maker BorsodChem for $1.6 billion.[2] The buyout of Wanhua from private equity firms Permira and Vienna Capital Partners came at a financially bleak time for BorsodChem and allowed the company to avoid laying off its 2700 employees.[3]

References

  1. ^ a b Gal, Janos (20 February 2012). "To the Rescue". ICIS Chemical Business. 
  2. ^ Richburg, Keith (1 March 2012). "China casts a wary eye on Europe". The Washington Post. 
  3. ^ "Wanhua to the rescue of BorsodChem". Chemical Business NewsBase. 20 February 2012. 

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