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Wanhua Chemical Group

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Wanhua Industrial Group
ISINCNE0000016J9 Edit this on Wikidata
Headquarters
Yantai, China
Key people
Jiansheng Ding (CEO)
Number of employees
over 12000 (including BorsodChem)
Websiteen.wanhuagroup.com

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

The company has an annual MDI production capacity of 1.8m tonnes. 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 on the blue chip SSE Composite Index.[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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