ChemChina

ChemChina began as a small solvents factory called Bluestar Company ({{zh|s=蓝星公司}}), founded by Ren Jianxin in 1984 with a 10,000-yuan loan.{{cite web |url=https://www.pirelli.com/corporate/it/about_us/management/default_Ren-Jianxin.html |title=Management: Ren Jianxin |publisher=Pirelli |date=20 October 2015 |access-date=3 February 2016 |archive-date=5 January 2017 |archive-url=https://web.archive.org/web/20170105030249/https://www.pirelli.com/corporate/it/about_us/management/default_Ren-Jianxin.html |url-status=live }} Ren created the ChemChina empire by taking control of over 100 troubled state-owned chemical factories across China, with the government retaining ownership. Meanwhile, he avoided laying off excess workers by shifting them to the company's {{Interlanguage link multi|Malan Noodle|zh|3=马兰拉面}} restaurant chain. He brought in consultants to professionalize the company's management, and it has become one of China's most dynamic state enterprises.{{cite news |title = Better than barbarians |url = https://www.economist.com/news/business/21688389-rich-world-firms-are-warming-idea-being-chinese-owned-better-barbarians |date = 14 January 2016 |newspaper = The Economist |access-date = 25 August 2017 |archive-date = 23 August 2017 |archive-url = https://web.archive.org/web/20170823164054/https://www.economist.com/news/business/21688389-rich-world-firms-are-warming-idea-being-chinese-owned-better-barbarians |url-status = live }}

In May 2004, after the State Council of the People's Republic of China approved a merger of companies formerly under the Ministry of Chemical Industry as the China National Chemical Corporation (ChemChina), Ren Jianxin became its CEO; in December 2014 he became the chairman of the board of directors.

Within ChemChina's agrochemicals business is a large portfolio of companies including Sanonda Holdings, Cangzhou Dahua, Shandong Dacheng, Jiangsu Anpon, Anhui Petrochemicals, and Huaihe Chemicals. It added Israel-based Makhteshim Agan (renamed to Adama Agricultural Solutions) in 2011 to the division in a 2.4 billion US dollars acquisition of a 60% stake in the company, the largest manufacturer of generic pesticides.{{cite news|last=Yap|first=Chuin-Wei|title=China Spends $2.4 Billion…On Pesticides?|url=https://blogs.wsj.com/chinarealtime/2011/01/11/china-spends-24-billionon-pesticides/|newspaper=Wall Street Journal|date=January 11, 2011|access-date=August 4, 2017|archive-date=June 15, 2020|archive-url=https://web.archive.org/web/20200615135507/https://blogs.wsj.com/chinarealtime/2011/01/11/china-spends-24-billionon-pesticides/|url-status=live}}

The chemical materials and speciality chemicals group made overseas acquisitions with two deals in 2006, both to acquire French companies.{{cite news|title=ChemChina deals boost its profile|url=http://english.peopledaily.com.cn/90001/6524786.html|newspaper=People's Daily|date=October 31, 2008|access-date=December 29, 2013|archive-date=March 3, 2011|archive-url=https://web.archive.org/web/20110303140833/http://english.peopledaily.com.cn/90001/6524786.html|url-status=live}} The first one was the Adisseo Group, a global animal nutrition feed firm that specialized in producing methionine, vitamins and biological enzymes. At the time of the purchase, Adisseo had worldwide market share of 30% in methionine. The other company was the organic silicon and sulphide business of Rhodia. With this acquisition the company became the third largest producer in the world of organic silicon.

The petrochemical processing division has been operating refineries including small ones known as teapot plants, giving it an oil processing capacity of about {{convert|25|e6t}} a year or about 500,000 barrels per day. After regulations liberalized the import of crude and fuel products in China, the company opened a trading office in Singapore in October 2013.{{Cite news|date=2013-08-22|title=ChemChina moving into Singapore oil hub to speed crude buys|language=en|work=Reuters|url=https://www.reuters.com/article/chemchina-crude-singapore-idUSL4N0GM0SX20130822|access-date=2020-06-30|archive-date=2022-02-15|archive-url=https://web.archive.org/web/20220215004750/https://www.reuters.com/article/chemchina-crude-singapore-idUSL4N0GM0SX20130822|url-status=live}}

In March 2015, it was announced that Pirelli shareholders had accepted a €7.1 billion bid from ChemChina for the world's fifth-largest tyre maker.{{cite news|title=ChemChina makes €7.1bn bid for Pirelli|url=https://www.theguardian.com/business/2015/mar/23/chemchina-makes-71bn-bid-for-italy-pirelli-tyre-maker|access-date=23 March 2015|work=The Guardian|agency=Reuters|date=23 March 2015|archive-date=25 March 2015|archive-url=https://web.archive.org/web/20150325005006/http://www.theguardian.com/business/2015/mar/23/chemchina-makes-71bn-bid-for-italy-pirelli-tyre-maker|url-status=live}}{{cite web|url=http://www.chemchina.com.cn/en/sj/webinfo/2015/03/1427071078820022.htm|title=ChemChina and Camfin Signed Share Purchase Agreement with respect to Pirelli|date=23 March 2015|access-date=22 January 2016|publisher=ChinaChem|archive-date=11 February 2022|archive-url=https://web.archive.org/web/20220211003758/http://www.chemchina.com.cn/en/sj/webinfo/2015/03/1427071078820022.htm|url-status=dead}}

In February 2016, ChemChina agreed to a $43 billion bid for Swiss seeds and pesticides group Syngenta, the largest ever foreign purchase by a Chinese firm.{{cite web|title=ChemChina nearing to buy Syngenta for record $43 billion|url=https://www.bloomberg.com/news/articles/2016-02-02/chemchina-said-near-deal-to-buy-syngenta-for-record-43-billion|access-date=4 February 2016|work=Bloomberg Business|date=3 February 2016|archive-date=21 June 2022|archive-url=https://web.archive.org/web/20220621225254/http://www.bloomberg.com/news/articles/2016-02-02/chemchina-said-near-deal-to-buy-syngenta-for-record-43-billion|url-status=live}} The deal was awaiting approval by the Committee on Foreign Investment in the United States (CFIUS) and European government panels, citing food safety and security concerns. In June 2016, both companies refiled the transaction for CFIUS approval, forcing them to restart the application process.J. Browning, D. McLaughlin (June 2016). [https://www.bloomberg.com/news/articles/2016-06-14/chemchina-said-to-add-time-for-u-s-to-review-syngenta-deal "ChemChina Said to Add Time for U.S. Syngenta Deal Review"] {{Webarchive|url=https://web.archive.org/web/20220901053905/http://www.bloomberg.com/news/articles/2016-06-14/chemchina-said-to-add-time-for-u-s-to-review-syngenta-deal |date=2022-09-01 }}. Bloomberg.com News. Retrieved 26 July 2016. In August 2016, the CFIUS cleared the deal, while the merger still awaited the regulatory review and concessions made towards the European Commission,{{cite web|url=http://ec.europa.eu/competition/elojade/isef/case_details.cfm?proc_code=2_M_7962|title=M.7962 CHEMCHINA / SYNGENTA|access-date=27 October 2016|work=European Commission|publisher=European Union|archive-date=5 October 2022|archive-url=https://web.archive.org/web/20221005230635/https://ec.europa.eu/competition/elojade/isef/case_details.cfm?proc_code=2_M_7962|url-status=live}} in particular with regard to divesting itself from agrochemical subsidiary Adama Agricultural Solutions (which was planned to sell to ChemChina's associated company Sanonda).{{cite news|title=ChemChina gets around 82 percent of Syngenta in $43 billion deal|url=https://www.reuters.com/article/us-syngenta-ag-m-a-chemchina-idUSKBN1860GT|work=Reuters|date=10 May 2017|access-date=2 July 2017|archive-date=14 May 2017|archive-url=https://web.archive.org/web/20170514160519/http://www.reuters.com/article/us-syngenta-ag-m-a-chemchina-idUSKBN1860GT|url-status=live}}

The Australian Competition & Consumer Commission cleared the deal in December 2016, but the buy-out was again delayed due to European antitrust investigations.[https://www.reuters.com/article/us-syngenta-m-a-chemchina-idUSKCN12P186 "ChemChina ready for concessions to clinch delayed Syngenta deal in 2017"] {{Webarchive|url=https://web.archive.org/web/20230329203503/http://www.reuters.com/article/us-syngenta-m-a-chemchina-idUSKCN12P186 |date=2023-03-29 }}. Reuters.com. Retrieved 26 October 2016. In April 2017, the European Commissioner for Competition and the U.S. Federal Trade Commission both approved the merger, requiring ChemChina to divest from pesticide production of paraquat, abamectin and chlorothalonil.{{cite news|last1=Tsang|first1=Amie|title=Deal's Approval Buoys China in Its Quest for Food Security|url=https://www.nytimes.com/2017/04/05/business/syngenta-chemchina-takeover.html|access-date=8 April 2017|work=The New York Times|date=6 April 2017|page=A1|archive-date=21 October 2023|archive-url=https://web.archive.org/web/20231021104251/https://www.nytimes.com/2017/04/05/business/syngenta-chemchina-takeover.html|url-status=live}}{{cite news|title=FTC Requires China National Chemical Corporation and Syngenta AG to Divest U.S. Assets as a Condition of Merger|url=https://www.ftc.gov/news-events/press-releases/2017/04/ftc-requires-china-national-chemical-corporation-syngenta-ag|access-date=8 April 2017|agency=Federal Trade Commission|date=4 April 2017|archive-date=11 February 2022|archive-url=https://web.archive.org/web/20220211035817/https://www.ftc.gov/news-events/press-releases/2017/04/ftc-requires-china-national-chemical-corporation-syngenta-ag|url-status=live}} The European Commission also addressed competition concerns with regard to plant growth regulators and reiterated the expected commitments for divestment from ADAMA-related products.{{cite news|title=Mergers: Commission clears ChemChina acquisition of Syngenta, subject to conditions|url=http://europa.eu/rapid/press-release_IP-17-882_en.htm|access-date=8 April 2017|agency=European Commission|date=5 April 2017|archive-date=16 July 2019|archive-url=https://web.archive.org/web/20190716102758/http://europa.eu/rapid/press-release_IP-17-882_en.htm|url-status=live}} As of May 26, 2017, ChemChina's plan to purchase Syngenta for $44 billion was nearing completion, with ChemChina amassing "huge bridge loans" to pay Syngenta stockholders.{{cite news |last=Webb |first=Quentin |date=May 26, 2017 |title=To Pay for Syngenta, ChemChina Looks to Beijing for Help |url=https://www.nytimes.com/2017/05/26/business/dealbook/to-pay-for-syngenta-chemchina-looks-to-beijing-for-help.html?ref=dealbook |work=The New York Times |location=New York City, United States |access-date=May 29, 2017 |archive-date=February 11, 2022 |archive-url=https://web.archive.org/web/20220211010532/https://www.nytimes.com/2017/05/26/business/dealbook/to-pay-for-syngenta-chemchina-looks-to-beijing-for-help.html?ref=dealbook |url-status=live }} The deal was completed that same month with 82.2 percent of Syngenta shares and depository receipts offered.

In May 2017, Reuters, reported that discussion had begun regarding the merging and consolidation of ChemChina and state-owned Sinochem, overtaking industry leaders such as BASF, in a deal worth around $120 billion.{{Cite news|date=2017-05-23|title=As Syngenta deal closes, ChemChina and Sinochem press $120 billion deal: sources|language=en|work=Reuters|url=https://uk.reuters.com/article/us-chemchina-m-a-sinochem-idUKKBN18J1HR|access-date=2020-07-01|archive-date=2020-07-02|archive-url=https://web.archive.org/web/20200702053519/https://uk.reuters.com/article/us-chemchina-m-a-sinochem-idUKKBN18J1HR|url-status=dead}} ChemChina merged with Sinochem Group to form Sinochem Holdings Corporation Ltd in 2021. This company also belongs to the Chinese state.{{Cite web |title=China: Neuer Chemie-Riese: Fusion von Sinochem und Chemchina steht kurz bevor |url=https://www.handelsblatt.com/unternehmen/industrie/china-neuer-chemie-riese-fusion-von-sinochem-und-chemchina-steht-kurz-bevor/27064316.html |access-date=2022-08-05 |website=www.handelsblatt.com |language=de |archive-date=2022-12-04 |archive-url=https://web.archive.org/web/20221204105209/https://www.handelsblatt.com/unternehmen/industrie/china-neuer-chemie-riese-fusion-von-sinochem-und-chemchina-steht-kurz-bevor/27064316.html |url-status=live }}{{Cite web |title=Sinochem Holdings > About Us > Profile > History |url=https://www.sinochem.com/newen/17186.html |access-date=2022-08-05 |website=www.sinochem.com |archive-date=2022-02-10 |archive-url=https://web.archive.org/web/20220210201616/https://www.sinochem.com/newen/17186.html |url-status=live }}

{{Further|United States sanctions against China}}

In August 2020, the United States Department of Defense published the names of companies operating directly or indirectly in the United States with ties to the People's Liberation Army. ChemChina was included on the list.{{cite web |date=August 28, 2020 |title=DOD Releases List of Additional Companies, in Accordance with Section 1237 of FY19 NDAA |url=https://www.defense.gov/News/Releases/Release/Article/2328894/dod-releases-list-of-additional-companies-in-accordance-with-section-1237-of-fy/ |url-status=live |archive-url=https://web.archive.org/web/20200830192407/https://www.defense.gov/Newsroom/Releases/Release/Article/2328894/dod-releases-list-of-additional-companies-in-accordance-with-section-1237-of-fy/ |archive-date=30 August 2020 |access-date=30 August 2020 |website=U.S. Department of Defense}}{{cite web |date=August 28, 2020 |title=Qualifying Entities Prepared in Response to Section 1237 of the National Defense Authorization Act for Fiscal Year 1999 (PUBLIC LAW 105–261) |url=https://media.defense.gov/2020/Aug/28/2002486689/-1/-1/1/LINK_1_1237_TRANCHE-23_QUALIFYING_ENTITIES.PDF |url-status=live |archive-url=https://web.archive.org/web/20200828202056/https://media.defense.gov/2020/Aug/28/2002486689/-1/-1/1/LINK_1_1237_TRANCHE-23_QUALIFYING_ENTITIES.PDF |archive-date=28 August 2020 |access-date=30 August 2020 |website=U.S. Department of Defense}} In November 2020, Donald Trump issued an executive order prohibiting any American company or individual from owning shares in companies that the United States Department of Defense has listed as having links to the People's Liberation Army, which included ChemChina.{{Cite news |last=Chen |first=Shawna |date=November 12, 2020 |title=Trump bans Americans from investing in 31 companies with links to Chinese military |work=Axios |url=https://www.axios.com/china-military-trump-investments-ban-a0458e29-2245-4bde-920b-d1c6bc698370.html |access-date=November 12, 2020 |archive-date=October 28, 2021 |archive-url=https://web.archive.org/web/20211028203620/https://www.axios.com/china-military-trump-investments-ban-a0458e29-2245-4bde-920b-d1c6bc698370.html |url-status=live }}{{Cite news |last1=Pamuk |first1=Humeyra |last2=Alper |first2=Alexandra |last3=Ali |first3=Idrees |date=2020-11-12 |title=Trump bans U.S. investments in firms linked to Chinese military |language=en |work=Reuters |url=https://www.reuters.com/article/us-usa-china-securities-exclusive-idUSKBN27S2X3 |access-date=2020-11-12 |archive-date=2021-10-28 |archive-url=https://web.archive.org/web/20211028175811/https://www.reuters.com/article/us-usa-china-securities-exclusive-idUSKBN27S2X3 |url-status=live }}

In October 2022, the United States Department of Defense added ChemChina to a list of "Chinese military companies" operating in the U.S.{{Cite web |date=2022-10-05 |title=DOD Releases List of People's Republic of China (PRC) Military Companies in Accordance With Section 1260H of the National Defense Authorization Act for Fiscal Year 2021 |url=https://www.defense.gov/News/Releases/Release/Article/3180636/dod-releases-list-of-peoples-republic-of-china-prc-military-companies-in-accord |access-date=2022-10-05 |website=U.S. Department of Defense |language=en-US |archive-date=2022-10-05 |archive-url=https://web.archive.org/web/20221005182828/https://www.defense.gov/News/Releases/Release/Article/3180636/dod-releases-list-of-peoples-republic-of-china-prc-military-companies-in-accord/ |url-status=live }}

• China National Agrochemical Corporation (100%)
• Sanonda Holdings (100%)
• Sanonda (expected 70%)
• Adama Agricultural Solutions (100%)

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• {{official website}}

{{Chinese fertilizer companies}}

{{Oil and gas companies of the People's Republic of China}}

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Category:Chemical companies of China

Category:Petrochemical companies

Category:Oil companies of China

Category:Government-owned companies of China

Category:Chinese companies established in 2004

Category:Chemical companies established in 2004

Category:Non-renewable resource companies established in 2004

Category:Chinese brands

Category:Haidian District

Category:Defence companies of the People's Republic of China