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Sinochem-ChemChina merger is approved

China’s State-owned Assets Supervision & Administration Commission (SASAC) has approved the long-planned merger of Sinochem and ChemChina. Partly to alleviate competition concerns, they will operate as separate subsidies of a newly created holding company owned by SASAC.

The combined entity will be by far the largest chemical producer in the world, with assets of about $245 billion. “This joint restructuring will create synergy, build up a world-class chemical company and promote a high-quality development of the chemical industry in China,” Sinochem said.

Syngenta Group launched

Syngenta Group, which describes itself as “a new global leader in agricultural science and innovation”, was formally launched on 18 June. Headquartered in Basel, Switzerland, it combines Syngenta itself, Israel’s Adama and the agricultural businesses of Sinochem, based in China.

The new entity has 15 production sites and 100 R&D sites, with 48,000 employees in more than 100 countries, turning over $23 billion in 2019. Erik Fyrwald, CEO of Syngenta, will remain as CEO of the group, with former Adama CEO Chen Lichtenstein as CFO. The group has four business units:

Syngenta Group launched

Syngenta Group, which describes itself as “a new global leader in agricultural science and innovation”, was formally launched on 18 June. Headquartered in Basel, Switzerland, it combines Syngenta itself, Israel’s Adama and the agricultural businesses of Sinochem, based in China.

The new entity has 15 production sites and 100 R&D sites, with 48,000 employees in more than 100 countries, turning over $23 billion in 2019. Erik Fyrwald, CEO of Syngenta, will remain as CEO of the group, with former Adama CEO Chen Lichtenstein as CFO. The group has four business units:

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