ACETIC ACID: intends to acquire 73.53% shares of Baoling Chemical

On March 19, the company announced that it had signed the Framework Agreement of Intent to Purchase Shares with six natural persons, Zhu Feng, Gu Shuji, Hu Weiping, Yu Jianping, Liu Xihan and Zhu Yixin, on March 18. The company and its related parties planned to purchase 73.53% shares of Jiangsu Baoling Chemical held by the trading partner, through cash.

Baoling Chemical, located in the Nantong Economic and Technological Development Zone, is a fine chemical enterprise engaged in the research and development, production and sales of chemical pesticides and their intermediates, the company said. If the acquisition is successfully completed, the company will give full play to the synergies with Baoling Chemical through a series of integration measures to further enhance the comprehensive competitiveness of the company.