Wanhua Chemical: All-round development to grow into a global chemical industry leader

recently, Wanhua Chemical Announced Company and Fujian Petrochemical signed a joint venture agreement to jointly invest in the establishment of Wanhua Fujian's first phase of registered capital of 3 billion yuan Wanhua Chemical cash contribution of 2.4 billion yuan accounted for 80% of the registered capital; The joint venture will grant a 64% stake in Fujian Cornell at zero price and build 400,000 tons/year MDI and aniline supporting project through Cornell, Fujian, and the joint venture will expand TDI production capacity to 250,000 tons/year to build 400,000 tons/year PVC project and build a large-scale coal gasification projectWanhua Chemical is a rare international cutting-edge manufacturing technology in China's chemical industryMDI is an oligopoly market, new installations are difficult and have a long cycle, and the company relies on continuous research and development to achieve technological breakthroughs, and is expected to achieve a leap of 800,000 tons of production capacity in a relatively short period of time, consolidating the world's first positionCompany C3/C4 petrochemical plant running smoothly, LPG trade scale continues to expand, in the construction of 1 million tons of large ethylene plant is expected to jointly strengthen the advantages of the polyurethane plate, deepen the petrochemical industry chain layoutSince 18 years, the company's 70,000 tons of PC, 300,000 tons of TDI, 80,000 tons of PMMA and other projects have been put into production, the future with PC II, SAP, synthetic spices, ADI, nylon-12 and other new projects have been launched, product categories further diversified, industrial chain support and layout to further improveIn early 2019, the company completed the overall listing, integrating MDI and other high-quality assets, improving the governance structure, and helping itself to the global polyurethane leader, China's important olefins and derivatives suppliers, such as the core supplier of new materials, Gaoyuan goal of a big step forwardthe establishment of this joint venture, the implementation of Wanhua Fujian 400,000 tons / year MDI expansion plan will make the company's future Total MDI production capacity is expected to reach 3.3 million tons / year about twice the second-largest BASF production capacity of the world's leading position is difficult to shakeFrom the production capacity planning point of view, this investment than the previous announcement of "Fujian Cornell 400,000 tons / year MDI project" added 250,000 tons / year TDI capacity, 400,000 tons / annual PVC capacity, 600,000 tons / year caustic soda production capacity of which causing raw materials for MDI and TDI, PVC will consume the production of MDI, TDI process produced waste acid has obvious campus integration advantagesfrom the production capacity layout of MDI and TDI in China, it can be found that mDI main units are concentrated in Shanghai, Shandong, Zhejiang and other east coastal areas inland only BASF Chongqing 400,000 tons / annual capacity in the southeast region has no capacity; TDI domestic TDI main production capacity is distributed in Shanghai, Hebei, Gansu, Shandong and other southeast regions only southeast electricity has 100,000 tons / annual production capacityChina's MDI has a larger part of the application of sole raw materials and automotive field TDI is also mainly used in soft furniture, automotive and other fields in the southeast region not only brought together China's main shoe-making enterprise series of industrial clusters, but Fujian is China's main soft furniture production base Guangzhou is Also China's fourth largest automobile manufacturing base after the project will have obvious location advantages can respond to the terminal market customer demandin addition,, Wanhua Chemical also in cash to acquire a 49% stake in Fujian Petrochemical Southeast Electric, led by Wanhua Fujian Joint Venture to expand the southeastern electrocution production capacity, from the existing 120,000 tons / year and 300,000 tons / year under construction to 600,000 tons / yearWith the technical reform of the existing capacity, the company's global MDI production capacity totals more than 2.1 million tons/year, the company also plans to have 400,000 tons/ year MDI product production capacity in the United States (project suspension), plus the future Fujian Cornell 400,000 tons / year MDI, the company's global production capacity will exceed 2.9 million tons / year2019 domestic MDI production capacity of 3.87 million tons, Wanhua Chemical's domestic market share of 46.5%, the future with the company's domestic technology reform projects and new projects put into production, Wanhua Chemical MDI's domestic market share will be more than 50%The company's original Yantai Industrial Park TDI production capacity of 300,000 tons / year (to be put into production at the end of 2018), The Hungarian BC TDI production capacity of 250,000 tons / year, plus the existing 100,000 tons / year TDI production capacity of The Southeast Electric, the company's global TDI production capacity reached 400,000 tonsThis investment will realize the distribution of Wanhua Chemical's production base in southeast China, enhance the competitiveness of Wanhua Chemical in the MDI and TDI industries, and enhance the market position of the polyurethane industryat the same time, the company also set up Ningbo Zhongxuan Investment as Aofelle employee shareholding platform in Fujian to further optimize the governance structure, to achieve the company's interests and employeeinterests binding, encourage employees to move southeast, and promote the construction of the Fujian production base not only, the company Yantai Industrial Park 1 million tons of large ethylene project is expected to start production in the second half of 2020, the project investment of about 17.8 billion yuan, the main equipment includes 1 million tons / year ethylene cracking device, 400,000 tons / year PVC, 150,000 tons / year ethylene oxide, 450,000 tons/year LLDPE, 30/65 million tons/year PO/SM device, 50,000 tons/year butadiene device, the project is expected to contribute important performance increment to the company after the birth; Company Yantai Industrial Park capital expenditure continued, Fujian base continues the company's future growth, long-term optimistic Wanhua comprehensive development to grow into a global chemical industry leader