North Chemical Co., Ltd. decided to not less than 16.79 yuan / share, targeted increase of no more than 180 million shares, the net proceeds to be raised does not exceed 3 billion. The raised funds are intended to be used in part to acquire the assets of TDI (toluene diisocyanate) and pump valves under the China North Industries Group Corporation, and some of them will be used for expansion and technological transformation after the completion of the acquisition.
Specifically, Beihua will invest 328 million yuan in the acquisition of 49.35% of the shares of Gansu Yinguang Juyin Chemical Co., Ltd. held by the subsidiaries of Weil Group, and invest 619 million yuan in the acquisition of 100% equity of Gansu Yinda Chemical Co., Ltd., with an investment of 1.92 million yuan. RMB 100 million to acquire 60% equity of companies such as Liaoning Northern Jinhua Polyurethane Co., Ltd., and invest RMB 126 million to acquire a 29.93% stake in Xiangfan Wuwu Wu Pump Co., Ltd. held by a natural person.
TDI is one of the important raw materials for polyurethane materials. Polyurethane has high strength and corrosion resistance, and can replace wood and steel. It is monopolized by BASF and Bayer in Germany, Huntsman and Dow Chemical in the United States and other four multinational companies. Weapons Group has more than 20 years of TDI research and production history, and is the first company in China to have TDI independent intellectual property rights. At present, the Group’s subsidiary TDI has a production capacity of 150,000 tons, which is the largest TDI producer in the country and has the ability to participate in the competition of international industry companies.
After the acquisition is completed, Beihua will increase the investment of 522 million yuan to Yinda Chemical and implement a 50,000-ton/year TDI technological transformation and expansion project. Yinda Chemical has cumulatively produced 45,800 tons of TDI product in 2010, and sold 45,800 tons of TDI products. , Achieve a net profit of 58.5467 million yuan, and Beihua will increase the capital of 1.11 billion yuan in northern Liaoning for a 100,000-ton TDI technical expansion project. In addition, it will also increase the value of the 1005-yuan pump industry by 100 million yuan for upgrade projects. .
North Chemicals said that after the completion of this non-public offering, in addition to nitrocellulose manufacturing, the company's business area will be expanded to the TDI industry, and will have industry-leading TDI production technology and superior market position, forming a new profit growth point It will help enhance the company's ability to continue to develop.
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