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On June 11, Lubei Chemical announced that on June 10, the company issued shares and paid cash to purchase assets and raised supporting funds and related transactions were unconditionally approved by the China Securities Regulatory Commission Mergers and Acquisitions Committee
.
"The essence of this transaction is that the titanium dioxide assets of Lubei Group will be injected into Lubei Chemical as a whole
.
Mergers and acquisitions
Mergers and acquisitionsCut into the field of titanium dioxide
Cut into the field of titanium dioxideAccording to the reorganization plan, Lubei Chemical intends to issue shares to the controlling shareholder Lubei Group and pay cash to acquire 66% equity of Jinhai Titanium held by it.
At the same time, Lubei Chemical intends to acquire 100% equity of Xianghai Titanium Industry held by Lubei Group in cash
.
According to the confirmation of the parties to the transaction, the 100% equity of Xianghai Titanium (still under construction) is priced at 20 million yuan and paid in cash; the 100% equity of Jinhai Titanium is priced at 1.
38 billion yuan and acquired by equity plus cash
.
According to the data, Jinhai Titanium has a titanium dioxide production line with an annual output of over 100,000 tons, and the main product is rutile
.
The original business of Lubei Chemical includes fertilizer, sulfuric acid, cement, bromine, salt and methane chloride
.
A senior executive of Lubei Group once told a reporter from Securities Daily that the overall injection of Lubei Group's titanium industry sector assets into Lubei Chemical can effectively improve the sustainable profitability of listed companies.
At the same time, the group's titanium industry assets have also achieved capital securitization.
, which will help maintain and increase the value of state-owned assets
.
"The titanium dioxide industry is highly related to the company's sulfur and phosphorus industry
.
Demand picks up
Demand picks upTitanium dioxide leader announced price increase
Titanium dioxide leader announced price increaseTitanium dioxide is widely used in coatings, plastics and rubber, papermaking and other fields
.
In the downstream consumption field of titanium dioxide in China, coatings are still the main ones, accounting for 61%, with plastics and rubber ranking second
.
With the steady growth of the national economy and the continuous development of downstream applications, the market demand for titanium dioxide has also shown a growing trend
.
According to public data, from 2011 to 2019, the apparent demand for titanium dioxide in China increased from 1.
586 million tons to 2.
346 million tons, with an average annual compound growth rate of 5%
.
On June 8, Ishihara, a Japanese titanium dioxide producer, publicly released its price adjustment letter, announcing that its titanium dioxide products sold to the Asia-Pacific region will increase the price of titanium dioxide products from July 1, by 200 US dollars / ton
.
"In the short term, Ishihara will use this to release a price increase signal to remind downstream customers to stock up
.
In the long run, with the control of the epidemic, downstream demand will gradually recover, and the price of titanium dioxide is expected to gradually recover after the end of June
.
" Zhuo Chuang Information Analyst Tian Xiaoyu said in an interview with the "Securities Daily" reporter that the enthusiasm of downstream customers in the domestic market to receive goods has begun to improve recently, and the market is generally optimistic about the future
.
"It is generally expected in the industry that the price of titanium dioxide has basically bottomed out
.
" A person from a domestic titanium dioxide enterprise also said that with the increase in the operating rate of downstream plastics, papermaking and coatings industries, the domestic demand for titanium dioxide continued to rise, and overseas titanium dioxide demand also began.
For the better, the demand for titanium dioxide is expected to continue to improve
.
"The adjustment of market prices has accelerated the elimination and integration of market players to a certain extent
.
" Tian Xiaoyu believes that in the future, large-scale titanium dioxide factories will have more competitive advantages
.
According to the data, Jinhai Titanium currently has 100,000 tons of titanium dioxide produced by sulfuric acid method, and the company also has a production line of 100,000 tons of titanium dioxide which is expected to be completed by the end of 2021
.
Xianghai Titanium's 60,000-ton chloride titanium dioxide production line is also planned to be completed by the end of 2021
.
After the completion of this transaction, Lubei Chemical's future production capacity of titanium dioxide will reach 260,000 tons, and the scale advantage will be further highlighted
.
"Jinhai Titanium has a good quality and relatively good profitability.
It is expected to usher in better development after being merged into a listed company
.
" Tian Xiaoyu said
.
